I think in our global economy, uncertainty is ever increasing. So to accommodate to that, we need to build a dynamic economy and dynamic rules that can adapt to changing circumstances. Myron Scholes Read Quote
Building a road might create temporary jobs, but does it really create wealth if it doesn’t also shorten commute times or otherwise make society better off? Myron Scholes Read Quote
Innovation must lead infrastructure for a simple but compelling reason: Innovation produces new types of products and markets, and it is virtually impossible to know how to run those markets efficiently before they are created. Myron Scholes Read Quote
My view is that one should diversify broadly across different fund investments. However, it’s tough for investors to try to pick the appropriate risk level that they should manage their funds at. Having a personal adviser would be helpful. Myron Scholes Read Quote
My career in academic research has not been involved with active management of securities. I’ve tried to understand risk-and-return relationships; also the pricing of derivative securities. Myron Scholes Read Quote
A futures contract is a derivative, but the futures exchange doesn’t call them ‘derivatives,’ they call them ‘futures.’ Myron Scholes Read Quote
I was involved with Wells Fargo Bank as a consultant in the late 1960s and early 1970s, when I suggested to them that they develop a product that has become known as index funds. Myron Scholes Read Quote
My first reaction on being awarded the Nobel Prize was, actually, I thought of Fischer Black, my colleague. He unfortunately had passed away. And there was no doubt in my mind that if he were still alive, he would have been a co-recipient of the Nobel Prize. Myron Scholes Read Quote
If we internationalize everything, we end up with rules that stifle freedom and innovation. Myron Scholes Read Quote
The experience of the ’90s, whether it’s the ’94 peso crisis or the ’97 crisis in Asia, the ’98 crisis, even the 2001 crisis, is that we recovered pretty readily. There wasn’t great consequence. Myron Scholes Read Quote
