I had some of the students in my finance class actually do some empirical work on capital structures, to see if we could find any obvious patterns in the data, but we couldn't see any. Merton Miller capitalclassdatum Change image and share on social
You only need to make one big score in finance to be a hero forever. Merton Miller bigfinanceforever Change image and share on social
What happened after publication of our paper was that, for the next 40 years, people said, all right, we now know the answer to the capital structure question under ideal conditions. Merton Miller answercapitalcondition Change image and share on social
I was born in Boston, Massachusetts on May 16, 1923, the only child of Joel and Sylvia Miller. Merton Miller bearbostonchild Change image and share on social
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. Merton Miller affectaggregatebond share on social
My main interest, however, was in economics, not law. Merton Miller economicsinterestlaw Change image and share on social
Arbitrage proof has since been widely used throughout finance and economics. Merton Miller arbitrageeconomicsfinance Change image and share on social
As an economics undergraduate, I also worked on a part-time basis in Cambridge, Massachusetts, for a company that was advising customers about portfolio decisions, writing reports. Merton Miller advisebasiscambridge Change image and 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 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
