But in practice, if often comes down to not suffering a loss as big as the huge gain you made a while ago.
More Quotes from Merton Miller:
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
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.
Merton Miller
My main interest, however, was in economics, not law.
Merton Miller
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
For me, as an economist, it was frustrating to have no sense of a theory of corporate finance to tie all this material together.
Merton Miller
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
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Alan White and I spent the next two or three years working together on this. We developed what is known a stochastic volatility model. This is a model where the volatility as well as the underlying asset price moves around in an unpredictable way.John Hull
Having no diplomatic representation in Washington, China has no sources which allow her to check the character of applicants and therefore makes the practice of refusing everybody from the United States.
Anna Louise Strong
Wisdom is found only in truth.
Johann Wolfgang von Goethe