### Comment:
Huh? I thought EMH was Fama &amp; French. Modigliani Miller were chatting shit about how taking on debt increases the value of the company due to tax deductions, or do I have this backwards?

### REPLY:
Close, but backwards. Fama &amp; French provided an alternative to the Capital Asset Pricing Model (CAPM). M&amp;M were responsible for the Efficient Market Theory

### END.