All Merton Miller Quotes
I can't 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 can't do it constantly, unless you're willing to put the resources in.
Merton Miller
63% of people like this quote
What counts is what you do with your money, not where it came from.
Merton Miller
61% of people like this quote
I was born in Boston, Massachusetts on May 16, 1923, the only child of Joel and Sylvia Miller.
Merton Miller
61% of people like this quote
Of course. I favor passive investing for most investors, because markets are amazingly successful devices for incorporating information into stock prices.
Merton Miller
59% of people like this quote
Arbitrage proof has since been widely used throughout finance and economics.
Merton Miller
55% of people like this quote
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
55% of people like this quote
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
55% of people like this quote
You only need to make one big score in finance to be a hero forever.
Merton Miller
54% of people like this quote
Junk bonds prove there's nothing magical in a Aaa bond rating.
Merton Miller
53% of people like this quote
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
53% of people like this quote
Everyone recognizes that's a joke because obviously the number and shape of the pieces doesn't affect the size of the pizza. And similarly, the stocks, bonds, warrants, etc., issued don't affect the aggregate value of the firm.
Merton Miller
53% of people like this quote
To beat the market you'll have to invest serious bucks to dig up information no one else has yet.
Merton Miller
50% of people like this quote
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 doesn't.
Merton Miller
50% of people like this quote
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
50% of people like this quote
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