Economist Quotes

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.
I should mention that I am a member of the board of directors of Dimensional Fund Advisors.
I was born in Boston, Massachusetts on May 16, 1923, the only child of Joel and Sylvia Miller.
Junk bonds prove there's nothing magical in a Aaa bond rating.
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.
My expertise was in public finance, particularly corporate taxation, since I had worked at the US Treasury.
My main interest, however, was in economics, not law.
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.
Of course. I favor passive investing for most investors, because markets are amazingly successful devices for incorporating information into stock prices.
So everybody has some information. The function of the markets is to aggregate that information, evaluate it, and get it incorporated into prices.
To beat the market you'll have to invest serious bucks to dig up information no one else has yet.
What counts is what you do with your money, not where it came from.
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.
You only need to make one big score in finance to be a hero forever.
A major source of objection to a free economy is precisely that group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.
And what does reward virtue? You think the communist commissar rewards virtue? You think a Hitler rewards virtue? You think, excuse me, if you'll pardon me, American presidents reward virtue? Do they choose their appointees on the basis of the virtue of the people appointed or on the basis of their political clout?
Columbus did not seek a new route to the Indies in response to a majority directive.
Concentrated power is not rendered harmless by the good intentions of those who create it.
Every friend of freedom must be as revolted as I am by the prospect of turning the United States into an armed camp, by the vision of jails filled with casual drug users and of an army of enforcers empowered to invade the liberty of citizens on slight evidence.
Governments never learn. Only people learn.
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