---
title: "1 Left Pocket Quotes By Merton Miller"
description: "1 Left Pocket quotes by Merton Miller. Plus more from Merton Miller and more Left Pocket sayings from other authors."
image: "https://sms4smile.com/quotes/i/d32/merton-miller-24401_another_another-is-if-you-take-money-out-of-your_2047401.jpg"
---

> [Another is, if you take money out of your left pocket and put it in your right pocket, you're no richer.](https://sms4smile.com/quotes/merton-miller/another-is-if-you-take-money-out-of-your-left-pocket-and-put-it-in/)

[Merton Miller](https://sms4smile.com/quotes/author/merton-miller/)

[Image](https://sms4smile.com/quotes/i/d32/merton-miller-24401_another_another-is-if-you-take-money-out-of-your_2047401.jpg)

## More by Merton Miller

> [... 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…](https://sms4smile.com/quotes/merton-miller/any-pension-fund-manager-who-doesn-t-have-the-vast-majority-and-i/)

[Merton Miller](https://sms4smile.com/quotes/author/merton-miller/)

> [My main interest, however, was in economics, not law.](https://sms4smile.com/quotes/merton-miller/my-main-interest-however-was-in-economics-not-law/)

[Merton Miller](https://sms4smile.com/quotes/author/merton-miller/)

> [I should mention that I am a member of the board of directors of Dimensional Fund Advisors.](https://sms4smile.com/quotes/merton-miller/i-should-mention-that-i-am-a-member-of-the-board-of-directors-of/)

[Merton Miller](https://sms4smile.com/quotes/author/merton-miller/)

> [My expertise was in public finance, particularly corporate taxation, since I had worked at the US Treasury.](https://sms4smile.com/quotes/merton-miller/my-expertise-was-in-public-finance-particularly-corporate-taxation/)

[Merton Miller](https://sms4smile.com/quotes/author/merton-miller/)

> [What counts is what you do with your money, not where it came from.](https://sms4smile.com/quotes/merton-miller/what-counts-is-what-you-do-with-your-money-not-where-it-came-from/)

[Merton Miller](https://sms4smile.com/quotes/author/merton-miller/)

> [Diversification is your buddy.](https://sms4smile.com/quotes/merton-miller/diversification-is-your-buddy/)

[Merton Miller](https://sms4smile.com/quotes/author/merton-miller/)

> [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…](https://sms4smile.com/quotes/merton-miller/i-can-t-speak-for-them-of-course-but-i-believe-that-most-economists/)

[Merton Miller](https://sms4smile.com/quotes/author/merton-miller/)

> [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…](https://sms4smile.com/quotes/merton-miller/everyone-recognizes-that-s-a-joke-because-obviously-the-number-and/)

[Merton Miller](https://sms4smile.com/quotes/author/merton-miller/)

> [Most people might just as well buy a share of the whole market, which pools all the information, than delude themselves into thinking they…](https://sms4smile.com/quotes/merton-miller/most-people-might-just-as-well-buy-a-share-of-the-whole-market-which/)

[Merton Miller](https://sms4smile.com/quotes/author/merton-miller/)

> [But in practice, if often comes down to not suffering a loss as big as the huge gain you made a while ago.](https://sms4smile.com/quotes/merton-miller/but-in-practice-if-often-comes-down-to-not-suffering-a-loss-as-big-as/)

[Merton Miller](https://sms4smile.com/quotes/author/merton-miller/)

> [You only need to make one big score in finance to be a hero forever.](https://sms4smile.com/quotes/merton-miller/you-only-need-to-make-one-big-score-in-finance-to-be-a-hero-forever/)

[Merton Miller](https://sms4smile.com/quotes/author/merton-miller/)

> [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,…](https://sms4smile.com/quotes/merton-miller/as-an-economics-undergraduate-i-also-worked-on-a-part-time-basis-in/)

[Merton Miller](https://sms4smile.com/quotes/author/merton-miller/)

> [What happened after publication of our paper was that, for the next 40 years, people said, all right, we now know the answer to…](https://sms4smile.com/quotes/merton-miller/what-happened-after-publication-of-our-paper-was-that-for-the-next-40/)

[Merton Miller](https://sms4smile.com/quotes/author/merton-miller/)

> [Junk bonds prove there's nothing magical in a Aaa bond rating.](https://sms4smile.com/quotes/merton-miller/junk-bonds-prove-there-s-nothing-magical-in-a-aaa-bond-rating/)

[Merton Miller](https://sms4smile.com/quotes/author/merton-miller/)

> [I had some of the students in my finance class actually do some empirical work on capital structures, to see if we could find…](https://sms4smile.com/quotes/merton-miller/i-had-some-of-the-students-in-my-finance-class-actually-do-some/)

[Merton Miller](https://sms4smile.com/quotes/author/merton-miller/)

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