Merton Miller Quotes

22 quotes in 352 categories

• To beat the market you'll have to invest serious bucks to dig up information no one else has yet.
• You only need to make one big score in finance to be a hero forever.
• What counts is what you do with your money, not where it came from.
• Junk bonds prove there's nothing magical in a Aaa bond rating.
• 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,…
• Arbitrage proof has since been widely used throughout finance and economics.
• 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…
• But in practice, if often comes down to not suffering a loss as big as the huge gain you made a while ago.
• I should mention that I am a member of the board of directors of Dimensional Fund Advisors.
• 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…
• I favour passive investing for most investors, because markets are amazingly successful devices for incorporating information into stock prices.
• If there's 10,000 people looking at the stocks and trying to pick winners, one in 10,000 is going to score, by chance alone, a great…
• My expertise was in public finance, particularly corporate taxation, since I had worked at the US Treasury.
• I was born in Boston, Massachusetts on May 16, 1923, the only child of Joel and Sylvia Miller.
• My main interest, however, was in economics, not law.
• 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…
• 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…
• Of course. I favor passive investing for most investors, because markets are amazingly successful devices for incorporating information into stock prices.
• So everybody has some information. The function of the markets is to aggregate that information, evaluate it, and get it incorporated into prices.
• Another is, if you take money out of your left pocket and put it in your right pocket, you're no richer.

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