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 options exchanges. Merton Miller economicexchangefinancial Change image and share on social
Junk bonds prove there's nothing magical in a Aaa bond rating. Merton Miller aaabondjunk Change image and share on social
I can't speak for them, of course, but I believe that most economists would accept the view that, while you sometimes can make a score by sheer luck, you can't do it constantly, unless you're willing to put the resources in. Merton Miller acceptconstantlyeconomist share on social
To beat the market you'll have to invest serious bucks to dig up information no one else has yet. Merton Miller beatbuckdig Change image and share on social
I should mention that I am a member of the board of directors of Dimensional Fund Advisors. Merton Miller advisorboarddimensional Change image and share on social
Another is, if you take money out of your left pocket and put it in your right pocket, you're no richer. Merton Miller leavemoneypocket Change image and share on social
What counts is what you do with your money, not where it came from. Merton Miller countmoney Change image and share on social
Of course. I favor passive investing for most investors, because markets are amazingly successful devices for incorporating information into stock prices. Merton Miller amazinglydevicefavor Change image and share on social
So everybody has some information. The function of the markets is to aggregate that information, evaluate it, and get it incorporated into prices. Merton Miller aggregateevaluatefunction Change image and share on social
But in practice, if often comes down to not suffering a loss as big as the huge gain you made a while ago. Merton Miller agobiggain Change image and share on social
