3 December 2020 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.
3 December 2020 Merton Miller My expertise was in public finance, particularly corporate taxation, since I had worked at the US Treasury.
3 December 2020 Merton Miller To beat the market you’ll have to invest serious bucks to dig up information no one else has yet.
3 December 2020 Merton Miller Arbitrage proof has since been widely used throughout finance and economics.
