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Merton Miller Quotes
Another is, if you take money out of your left pocket and put it in your right pocket, youre no richer. - Merton Miller Quotes
Arbitrage proof has since been widely used throughout finance and economics. - Merton Miller Quotes
As an economics undergraduate, I also worked on a part-time basis in Cambridge, Massachusetts, for a company that was advising customers about portfolio decisions, writing reports. - Merton Miller Quotes
But in practice, if often comes down to not suffering a loss as big as the huge gain you made a while ago. - Merton Miller Quotes
Everyone recognizes thats a joke because obviously the number and shape of the pieces doesnt affect the size of the pizza. And similarly, the stocks, bonds, warrants, etc., issued dont affect the aggregate value of the firm. - Merton Miller Quotes
For me, as an economist, it was frustrating to have no sense of a theory of corporate finance to tie all this material together. - Merton Miller Quotes
Franco and I were both working on the problem, but from somewhat different perspectives - he from macroeconomics and me from corporate finance. - Merton Miller Quotes
I cant speak for them, of course, but I believe that most economists would accept the view that, while you sometimes can make a score by sheer luck, you cant do it constantly, unless youre willing to put the resources in. - Merton Miller Quotes
I had some of the students in my finance class actually do some empirical work on capital structures, to see if we could find any obvious patterns in the data, but we couldnt see any. - Merton Miller Quotes
I should mention that I am a member of the board of directors of Dimensional Fund Advisors. - Merton Miller Quotes
I was born in Boston, Massachusetts on May 16, 1923, the only child of Joel and Sylvia Miller. - Merton Miller Quotes
Junk bonds prove theres nothing magical in a Aaa bond rating. - Merton Miller Quotes
Most people might just as well buy a share of the whole market, which pools all the information, than delude themselves into thinking they know something the market doesnt. - Merton Miller Quotes
My expertise was in public finance, particularly corporate taxation, since I had worked at the US Treasury. - Merton Miller Quotes
My main interest, however, was in economics, not law. - Merton Miller Quotes
My research interests since then have shifted strongly towards the economic and regulatory problems of the financial services industry, and especially of the securities and options exchanges. - Merton Miller Quotes
Of course. I favor passive investing for most investors, because markets are amazingly successful devices for incorporating information into stock prices. - Merton Miller Quotes
So everybody has some information. The function of the markets is to aggregate that information, evaluate it, and get it incorporated into prices. - Merton Miller Quotes
To beat the market youll have to invest serious bucks to dig up information no one else has yet. - Merton Miller Quotes
What counts is what you do with your money, not where it came from. - Merton Miller Quotes
What happened after publication of our paper was that, for the next 40 years, people said, all right, we now know the answer to the capital structure question under ideal conditions. - Merton Miller Quotes
When I started worrying about stocks, it was the late 1930s and early 1940s and it didnt seem like a good way to make money then, either. - Merton Miller Quotes
You only need to make one big score in finance to be a hero forever. - Merton Miller Quotes
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