Merton Miller

What counts is what you do with your money, not where it came from. ↗

— Merton Miller

#came #counts #where #you #your

Another is, if you take money out of your left pocket and put it in your right pocket, you're no richer. ↗

— Merton Miller

#left #money #out #pocket #put

Arbitrage proof has since been widely used throughout finance and economics. ↗

— Merton Miller

#economics #finance #proof #since #throughout

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

#advising #also #basis #cambridge #company

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

#big #comes #down #gain #huge

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

#any #capital #class #could #data

I should mention that I am a member of the board of directors of Dimensional Fund Advisors. ↗

— Merton Miller

#board #dimensional #directors #fund #i

I was born in Boston, Massachusetts on May 16, 1923, the only child of Joel and Sylvia Miller. ↗

— Merton Miller

#boston #child #i #i was born #joel

Junk bonds prove there's nothing magical in a Aaa bond rating. ↗

— Merton Miller

#bonds #junk #magical #nothing #prove

Most people might just as well buy a share of the whole market, which pools all the information, than delude themselves into thinking they know something the market doesn't. ↗

— Merton Miller

#delude #information #into #just #know