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.

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.

I did work out every day. I needed it to have the endurance to do what needed to be done and not get hurt. I have such a new respect for action stars now.

Many are needed to plant and water what has been planted now that the faith has spread so far and there are so many people... No matter who plants or waters, God gives no harvest unless what is planted is the faith of Peter and unless he agrees to his teachings.

It's funny, 'cause it seems like just yesterday that I was the youngest player just starting out. But now there are young players all over the league, and they'll ask me questions about playing overseas or finding an agent.

I want to have babies one day but not right now. When I do it I want to do it really well. I want it to be my best project in life.

I'm getting a wider circle of fans now. More women, more middle class people.

I am now convinced that theoretical physics is actually philosophy.

It is too maddening. I've got to fly off, right now, to some devilish navy yard, three hours in a seasick steamer, and after being heartily sick, I'll have to speak three times, and then I'll be sick coming home. Still, who would not be sick for England?

Although Alchemy has now fallen into contempt, and is even considered a thing of the past, the physicain should not be influenced by such judgements.

The kinds of shows that seem to work now, the comedy shows, are those which require very little attention. They're superficial and I like articulate comedy.

I'm a more mature actress now.

Before and during the first phase of the war his administration repeatedly maligned the UN but now, that Iraq has turned into a quagmire, it is asking the UN for help.

They haul you up there for, you know, week after week in this kind of star chamber proceeding. Then at the end of it they say, well, we found nothing, but now it's time for special counsel.

I have in hands, now, specimens of bottom from t he Gulf Stream, obtained by Lieutenant Craven, and I can say that they are among the most interesting that I have ever seen.

From now on it is only through a conscious choice and through a deliberate policy that humanity can survive.

So I am one of those bass players who can do something and musically, it was back then and now it is even more, if you noticed on the new album, I am not playing all the time anymore.

Had the Hebrews not been disturbed in their progress a thousand and more years ago, they would have solved all the great problems of civilization which are being solved now under all the difficulties imposed by the spirit of the Middle Ages.

I had to overcome the name Rock. If I'd been as hip then as I am now, I would have never consented to be named Rock.

I'm working harder than ever now, and I'm putting on my pants the same as I always have. I just get up every day and try to do a little better than the day before, and that is to run a great restaurant with great food, great wine, and great service. That's my philosophy.

The fact is, Latinos now own their own lives and I believe they can afford to look back without judgment.

Terrorism, ladies and gentlemen, in my eyes I have a very, very, very simple explanation. Gangs of criminals, killers, used unfortunately by certain governments in the past for political purposes, who are on their own now as gangs.

When I read a book I seem to read it with my eyes only, but now and then I come across a passage, perhaps only a phrase, which has a meaning for me, and it becomes part of me.

That music and the lyrical aspects of Razorblade Romance is so personal to me that, now with me being grown up a bit and meeting new people and doing new things, it makes me look at the same things I was writing about back in the day through a different colored lens.

We choose what attitudes we have right now. And it's a continuing choice.

What I have learned from my work up to now, is to try to be open, but also protect myself by not letting the good and the evil get too much importance.

If Davis Cup was a little bit less or once every two years, I would be more inclined to play. But the way it is now, it is too much tennis for me.

It seems difficult, sometimes, to believe that there was a time when sentiments now become habitual, sentiments that imply not only the original imperative of conduct, but the original metaphysic of living, were by no means altogether habitual.

What I am interested in now is the landscape. Pictures without people. I wouldn't be surprised if eventually there are no people in my pictures. It is so emotional.

We thought it would be fun to try to design a show that would work well internationally and so that' s what we're intending to do with Fraggle Rock, and we are indeed now selling it around the world.