Myron Scholes

My career in academic research has not been involved with active management of securities. I've tried to understand risk-and-return relationships; also the…

— Myron Scholes

Most of the time, your risk management works. With a systemic event such as the recent shocks following the collapse of Lehman…

— Myron Scholes

Building a road might create temporary jobs, but does it really create wealth if it doesn't also shorten commute times or otherwise…

— Myron Scholes

The experience of the '90s, whether it's the '94 peso crisis or the '97 crisis in Asia, the '98 crisis, even the…

— Myron Scholes

A futures contract is a derivative, but the futures exchange doesn't call them 'derivatives,' they call them 'futures.'

— Myron Scholes

If someone says to you, 'Go to an old-folks' home,' that's kind of ridiculous, because a lot of old people are doing…

— Myron Scholes

All models have faults - that doesn't mean you can't use them as tools for making decisions.

— Myron Scholes

If someone says to you, Go to an old-folks home, thats kind of ridiculous, because a lot of old people are doing…

— Myron Scholes

I'm a theorist, not an institutionalist.

— Myron Scholes

I was involved with Wells Fargo Bank as a consultant in the late 1960s and early 1970s, when I suggested to them…

— Myron Scholes

My first reaction on being awarded the Nobel Prize was, actually, I thought of Fischer Black, my colleague. He unfortunately had passed…

— Myron Scholes

I think in our global economy, uncertainty is ever increasing. So to accommodate to that, we need to build a dynamic economy…

— Myron Scholes

From an early age I was very, very fascinated by uncertainty.

— Myron Scholes

Innovation must lead infrastructure for a simple but compelling reason: Innovation produces new types of products and markets, and it is virtually…

— Myron Scholes

All models have faults - that doesnt mean you cant use them as tools for making decisions.

— Myron Scholes

Keynesian modelling relies on marginal propensity to consume and marginal propensity to invest. The idea that if we give more money to…

— Myron Scholes

Tax incentives might spur hiring in the short run, but how lasting are those gains if the jobs expire with the tax…

— Myron Scholes

Every side of a coin has another side.

— Myron Scholes

Sometimes the early bird gets the worm, but sometimes the early bird gets frozen to death.

— Myron Scholes

My view is that one should diversify broadly across different fund investments. However, it's tough for investors to try to pick the…

— Myron Scholes

A bank needs models to measure risk. The problem, however, is that any one bank can measure its risk, but it also…

— Myron Scholes

If we internationalize everything, we end up with rules that stifle freedom and innovation.

— Myron Scholes