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 couldnt see any. – Merton Miller
To beat the market youll have to invest serious bucks to dig up information no one else has yet. – Merton Miller
Arbitrage proof has since been widely used throughout finance and economics. – Merton Miller
What counts is what you do with your money, not where it came from. – Merton Miller
To that class we may leave it to refine the vernacular dialects of the country, to enrich those dialects with terms of science borrowed from the Western nomenclature, and to render them by degrees fit vehicles for conveying knowledge to the great mass of the population. – Thomas B. Macaulay