I should mention that I am a member of the board of directors of Dimensional Fund Advisors.

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

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.

Junk bonds prove there's nothing magical in a Aaa bond rating.

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.

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.

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

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

I should mention that I am a member of the board of directors of Dimensional Fund Advisors.

What counts is what you do with your money, not where it came from.

My main interest, however, was in economics, not law.

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.

Another is, if you take money out of your left pocket and put it in your right pocket, you're no richer.

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.

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.

To beat the market you'll have to invest serious bucks to dig up information no one else has yet.

I was born in Boston, Massachusetts on May 16, 1923, the only child of Joel and Sylvia Miller.

Arbitrage proof has since been widely used throughout finance and economics.

You only need to make one big score in finance to be a hero forever.

Of course. I favor 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.

Comedians still make fun of Bill's out-of-control appetites, but with Hillary, the mockery is about how she lets nothing be out of control.

My one guilty pleasure is, every airport, I will drop everything to get an airport massage at those kiosks.

Argument is to me the air I breathe. Given any proposition, I cannot help believing the other side and defending it.

Showing off seemed to me to be a highly valuable and necessary activity when I was 20.

With dancing, I think the reason it's worked for me, and I love it so much, is because I've trained my entire life. Once you train, you develop your own aesthetic and your confidence. So I think, as I grow, I'm learning how to be a singer. I'm training my voice and being on stage and singing and dancing.

I have a very low tolerance for boredom and often think I would have missed out on books entirely if I'd grown up in the Internet and video game age. Now I enjoy books for people of all ages, including children.

The power of heart is much stronger than the power of mind to empower our life.

Everything will have a Yelp review. And if you're a worker, there will be like credit scores. There already are to some extent. How reliable are you? How many jobs have you had? Have there been lawsuits filed against you? How many traffic tickets?

We are never deceived we deceive ourselves.

Victories that are easy are cheap. Those only are worth having which come as the result of hard fighting.

I'm a good person. I don't wish hateful things on people. I don't hate anybody. I know that I treat people right.

America owed its military renaissance in the 1980s and 1990s to Vietnam. Veterans like Norman Schwartzkopf, Colin Powell, Alfred Grey, Charles Krulak, and Wesley Clark returned home angry and ashamed at their defeat and rebuilt all-volunteer, professional armed forces from the ground up.

The woods of Arcady are dead, And over is their antique joy; Of old the world on dreaming fed Gray Truth is now her painted toy.

There's nothing about interdependence that would keep somebody from making art.

As long as I live, I will never forget that day 21 years ago when I raised my hand and took the oath of citizenship. Do you know how proud I was? I was so proud that I walked around with an American flag around my shoulders all day long.

I can tell how I'm doing, and I can tell if the crowd is particularly dead.

What I always try to do is to respond to the song; I've always rebelled against theory.

I would never recommend losing on a bye, so that one definitely stays with you.

The best training is to play by ear: trial by fire.

A lot of people who own a business aren't entrepreneurial at all.

I think God has chosen to use this as a tool.

I love seeing live music.

Nothing is fun until youre good at it.

Being very, very honest, I've watched more Bill Clinton speeches than stand-up specials. Steve Jobs commencements. They're just great orators. I love people who boldly share their point of view.