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*Quotes and pictures are utilized for illustrative purposes only and should not be construed as an endorsement, recommendation, or guarantee of any particular financial product, service, or advisor.
Quotes by Merton Miller (5)
Merton Miller, Ph.D, Nobel Laureate in Economics, 1990
"Everybody has some information. The function of the markets is to aggregate that information, evaluate it and get it incorporated into prices."
Merton Miller, Ph.D, Nobel Laureate in Economics, 1990
"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.
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Merton Miller, Ph.D, Nobel Laureate in Economics, 1990
"...Any pension fund manager who doesn't have the vast majority—and I mean 70% or 80% of his or her portfolio—in passive investments is guilty of malfeasance, nonfeasance or some other kind of bad feasance!"
Merton Miller, Ph.D, Nobel Laureate in Economics, 1990
"If there are 10,000 people looking at the stocks and trying to pick winners, one in 10,000 is going to score, by chance alone, a great coup, and that's all that's going on. It's a game, it's a chance operation, and people think they are doing something purposeful... but they're really not."
Merton Miller, Ph.D, Nobel Laureate in Economics, 1990
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TermsDisclosuresIndex DescriptionsForm CRS The data provided in charts referring to IFA Index Portfolios is hypothetical back-tested performance and is not actual client performance. Performance data for the IFA Index Portfolios is shown net of IFA's highest advisory fee and the underlying mutual fund expenses. IFA Indexes when shown individually do not reflect a deduction of advisory fees. None of the data reflects trading costs or taxes, which would have lowered performance by these costs. See more important disclosures at ifabt.com.
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