"Everyone recognizes that's a joke because obviously the……" — 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 stocks, bonds, warrants, etc., issued don't affect the aggregate value of the firm."
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Merton Miller
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22 Quotes by Merton Miller
Merton Miller has 22 quotes on this site.
A few more worth reading:
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To beat the market you'll have to invest serious bucks to dig up information no one else has yet.
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You only need to make one big score in finance to be a hero forever.
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What counts is what you do with your money, not where it came from.
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Junk bonds prove there's nothing magical in a Aaa bond rating.
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Arbitrage proof has since been widely used throughout finance and economics.
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As an economics undergraduate, I also worked on a part-time basis in Cambridge, Massachusetts, for a company that was advising…
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But in practice, if often comes down to not suffering a loss as big as the huge gain you made…
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I should mention that I am a member of the board of directors of Dimensional Fund Advisors.
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I had some of the students in my finance class actually do some empirical work on capital structures, to see…
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I favour passive investing for most investors, because markets are amazingly successful devices for incorporating information into stock prices.
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If there's 10,000 people looking at the stocks and trying to pick winners, one in 10,000 is going to score,…
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My expertise was in public finance, particularly corporate taxation, since I had worked at the US Treasury.
See all 22 quotes by Merton Miller »
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