Phrase by 'Merton Miller'
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Arbitrage proof has since been widely used throughout finance and economics.
Author: Merton Miller - American EconomistBeen , Finance , Used , Economics
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.
Author: Merton Miller - American EconomistPeople , Know , Said , Answer
What counts is what you do with your money, not where it came from.
Author: Merton Miller - American EconomistYou , Your , Where , Money
I should mention that I am a member of the board of directors of Dimensional Fund Advisors.
Author: Merton Miller - American EconomistI Am , Should , Board , Mention
Of course. I favor passive investing for most investors, because markets are amazingly successful devices for incorporating information into stock prices.
Author: Merton Miller - American EconomistFavor , Successful , Because , Information
So everybody has some information. The function of the markets is to aggregate that information, evaluate it, and get it incorporated into prices.
Author: Merton Miller - American EconomistSome , Get , Function , Information
To beat the market you'll have to invest serious bucks to dig up information no one else has yet.
Author: Merton Miller - American EconomistYou , Serious , Finance , Information
You only need to make one big score in finance to be a hero forever.
Author: Merton Miller - American EconomistYou , Need , Hero , Finance
But in practice, if often comes down to not suffering a loss as big as the huge gain you made a while ago.
Author: Merton Miller - American EconomistYou , Down , Suffering , Loss
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.
Author: Merton Miller - American EconomistYou , View , Luck , Believe