Academic Quote by Myron Scholes

I can't figure out why anyone invests in active management, so asking me about hedge funds is just an extreme version of the same…

— Eugene Fama

In some industries, we refer to risk taking as 'research and development.' At financial institutions, we often take risk by investing in securities.

— Kenneth C. Griffin

Active management strategies demand uninstitutional behavior from institutions, creating a paradox that few can unravel. Establishing and maintaining an unconventional investment profile requires acceptance…

— David F. Swensen

With respect to their safety, derivatives, for the most part, are traded among very sophisticated financial institutions and individuals who have considerable incentive to…

— Ben Bernanke

My research interests since then have shifted strongly towards the economic and regulatory problems of the financial services industry, and especially of the securities…

— Merton Miller

I am not really inclined to think there is any very effective regulation of the derivative securities markets that would be useful. People who…

— Kenneth Arrow

People far too often associate derivatives markets with mere speculation, but there are very legitimate businesses that need derivatives to protect themselves against risk.

— Fred Ehrsam

There's a tendency to look at investments in isolation. Investors focus on the risk of individual securities.

— Daniel Kahneman

Active management leads to lots of poor investor behavior. It sends people chasing after whoever has the hot hand at the moment.

— Barry Ritholtz

In the financial markets, however, the connection between a marketable security and the underlying business is not as clear-cut. For investors in a marketable…

— Seth Klarman

The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning…

— Alan Greenspan

Active investment is a zero-sum game. Passive managers don't play the game. They buy something resembling the market as a whole, or some segment…

— Eugene Fama