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.

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.

Our strength in finance has led us to set up an international financial centre with medium and long-term objectives, especially to develop Islamic financial and insurance services.

So, for example, a country was into recession right after I was sworn in, a dot-com bust had taken place. Then the attacks of September the 11th, and then of course the great financial meltdown in the -the fundamental question facing any presidency is how do you deal with the hand you're dealt?

I take great pride in having been able to overcome the Asian financial crisis and seeking the opportunities available to bring about an unprecedented growth in the economy.

I've been a financial journalist for 30 years.

Over and over again, financial experts and wonkish talking heads endeavor to explain these mysterious, 'toxic' financial instruments to us lay folk. Over and over, they ignobly fail, because we all know that no one understands credit default obligations and derivatives, except perhaps Mr. Buffett and the computers who created them.

I believe my publisher has shown a great deal of faith in me over a lot of years but I'm not prepared to be so arrogant to say that the long-term literary value of my work would compensate them for a financial failure.

We have, unlike many of our competitors, continued to meet our various financial obligations.

I kept an interested eye on the transfer window in England, which opened and closed last month, and the lack of frantic activity just goes to show the current financial state of the game right now.

I finally know what distinguishes man from the other beasts: financial worries.

One of the special characteristics of New York is that it is different from a London or a Paris because it's the financial capital, and the cultural capital, but not the political capital.

It's hard to exaggerate the importance of preserving the financial integrity of Social Security.

Women would be disproportionately affected by the privatization of social security. It is one of the most important safety nets for American women in old age, or in times of disability, to insure financial income for their families.

Asean is obviously a very important association for us. Over the past 30 years Asean has made great strides in regional cooperation covering a number of areas, although recently it has been under strain because of the financial crisis and other challenges.

For the past ten years I have had no financial problems.

We're on the verge of a financial collapse unless we balance the budget, and that means some really, really tough decisions.

Your most precious possession is not your financial assets. Your most precious possession is the people you have working there, and what they carry around in their heads, and their ability to work together.

Hitler's economic revolution in Germany had reduced financial considerations to a point where they played no role in economic or political decisions.

We did it Disneyland, in the knowledge that most of the people I talked to thought it would be a financial disaster - closed and forgotten within the first year.

Just because scientists have the knowledge to do it, the technology to do it, and some may even have a financial motive or other incentive to do it, does not make it right.

You want the story to end when it's supposed to and not be squeezed for somebody's financial gain.

In California, of all places, entertainment is the key to a vibrant economy. If we do not develop young adults capable of entering that world, the financial base of this state is sure to suffer and impact all of us.

It's never been more important for borrowers to arm themselves with knowledge and build sound financial-management skills.

The major media companies are significantly reducing their financial commitment to the motion picture sector.

The Republicans are looking after the financial interests of the wealthiest individuals in this country.

What we're going to do is redouble our efforts on financial regulatory reform, because that has in it sensible things like say on pay, so at least the shareholders are minding the store, sensible things like saying, for heaven's sakes, compensation should be focused on - on long term, so that you don't have rewards for short-term risk-taking.

Firstly, economic globalisation has brought prosperity and development to many countries, but also financial crises to Asia, Latin America and Russia, and increasing poverty and marginalisation.

The Russian drama began at the end of 1991, when the Soviet Union mercifully ended. Russia and 14 other new countries emerged from the ruins of the Soviet Union. Every one of those 15 new states faced a profound historical, economic, financial, social and political challenge.

You need in the long run for stability, for economic growth, for jobs, as well as for financial stability, global economic institutions that make sure that growth to be sustained has to be shared, and are built on the principle that the prosperity of this world is indivisible.