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"I was born in Boston, Massachusetts on May 16, 1923, the only child of Joel and Sylvia Miller."
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"In Massachusetts, scientists have created the first human clone. The bad thing is that in thirty years, the clone will still be depressed because the Boston Red Sox will still have not won a World Series."

"In New York, you couldn't wish for a nicer audience, or in L.A., Chicago, Boston. But when you get into secondary markets, they don't have a clue."

"2004 was a great year for Boston! The Patriots won the Super Bowl! Boston hosted its first national political convention! And - the Red Sox won the World Series!"

"I was also the romantic lead in The Boston Strangler - I was the only one that lived to tell the story - so I called myself the romantic lead."

"Tonight, I am pleased to announce that I have secured $1 million from the Convention Host Committee to fund the beautification of Boston's neighborhoods."

"When I started at the Globe 40 years ago, there were seven newspapers in Boston and now there are only two. There were only three or four television stations in Boston and now there are a dozen."
Explore more quotes by Merton Miller


"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."


"So everybody has some information. The function of the markets is to aggregate that information, evaluate it, and get it incorporated into prices."


"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."


"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."


"Of course. I favor passive investing for most investors, because markets are amazingly successful devices for incorporating information into stock prices."


"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."


"But in practice, if often comes down to not suffering a loss as big as the huge gain you made a while ago."


"My expertise was in public finance, particularly corporate taxation, since I had worked at the US Treasury."
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