"So everybody has some information. The function of……" — Merton Miller
"So everybody has some information. The function of the markets is to aggregate that information, evaluate it, and get it incorporated into prices."
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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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Everyone recognizes that's a joke because obviously the number and shape of the pieces doesn't affect the size of the…
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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,…
See all 22 quotes by Merton Miller »
More Aggregate Quotes
This quote is filed under Aggregate Quotes,
one of 76 quotes in that category. Here are a few more:
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A people represents not so much an aggregate of ideas and theories as of obsessions.
— Emile M. Cioran
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He who by an exertion of mind or body, adds to the aggregate of enjoyable wealth, increases the sum of…
— Henry George
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The aggregate happiness of the society, which is best promoted by the practice of a virtuous policy, is, or ought…
— George Washington
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When the aggregate amount of solid matter transported by rivers in a given number of centuries from a large continent,…
— Charles Lyell
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I attempted to see famines as broad "economic" problems (concentrating on how people can buy food, or otherwise get entitled…
— Amartya Sen
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My share of the work of the world may be limited, but the fact that it is work makes it…
— John Harvey Kellogg
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One of the most helpful things that anybody can learn is to give up trying to catch the last eighth…
— Jesse Lauriston Livermore
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Now Manchester United are 2-1 down on aggregate, they are in a better position than when they started the game…
— Ron Atkinson
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Now it is worth noticing two things about the private substitutes that I have described. The first is that in…
— Unknown Author
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It should be possible to emphasize to students that the level of employment is a macroeconomic issue, depending in the…
— Paul Krugman
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The sources of deflation are not a mystery. Deflation is in almost all cases a side effect of a collapse…
— Ben Bernanke
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History, that is to say, the unconscious, universal life of humanity, in the aggregate, every moment profits by the life…
— Leo Tolstoy
See all 76 Aggregate Quotes »