"I should mention that I am a member of the board of directors of Dimensional Fund Advisors."
About the author
Merton Miller
Economist
Merton Miller was a renowned economist known for his pivotal contributions to financial theory, particularly in capital structure and risk management.
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"To beat the market you'll have to invest serious bucks to dig up information no one else has yet."
"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."
"What counts is what you do with your money, not where it came from."
"I favour passive investing for most investors, because markets are amazingly successful devices for incorporating information into stock prices."
"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."