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 Copy Share Image
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 couldn't see any. — 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 Image
I should mention that I am a member of the board of directors of Dimensional Fund Advisors. — Merton Miller Copy Share Image
My expertise was in public finance, particularly corporate taxation, since I had worked at the US Treasury. — Merton Miller Copy Share Image
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 Image
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 Image
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 Image
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 Image
You only need to make one big score in finance to be a hero forever. — Merton Miller Copy Share Image
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 Image
