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"Another is, if you take money out of your left pocket and put it in your right pocket, you're no richer."
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"Money cannot buy you love. But it sure can buy you things that some people will love you for having."

"The Bible does not say money is the root of all evil; it says the love of money is the root of all kinds of evil. A poor man who, in his heart, worships the idea of being rich is more vulnerable to its evils than a rich man who has a heart to use it all for the Lord."

"A drinker has a hole under his nose that all his money runs into."

"Put not your trust in money, but put your money in trust."
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"My expertise was in public finance, particularly corporate taxation, since I had worked at the US Treasury."

"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."

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

"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."

"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."

"I can't speak for them, of course, but I believe that most economists would accept the view that, while you sometimes can make a score by sheer luck, you can't do it constantly, unless you're willing to put the resources in."

"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."

"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."
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