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 Copy Share Image
... Any pension fund manager who doesn't have the vast majority-and I mean 70% or 80% of his or her portfolio-in passive investments is… — Merton Miller Copy Share
I should mention that I am a member of the board of directors of Dimensional Fund Advisors. — Merton Miller Copy Share
My expertise was in public finance, particularly corporate taxation, since I had worked at the US Treasury. — Merton Miller Copy Share
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… — Merton Miller Copy Share
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… — Merton Miller Copy Share
Most people might just as well buy a share of the whole market, which pools all the information, than delude themselves into thinking they… — Merton Miller Copy Share
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 Copy Share
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,… — Merton Miller Copy Share
What happened after publication of our paper was that, for the next 40 years, people said, all right, we now know the answer to… — Merton Miller Copy Share
I had some of the students in my finance class actually do some empirical work on capital structures, to see if we could find… — Merton Miller Copy Share
