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Quote by Myron Scholes

“Sometimes the early bird gets the worm, but sometimes the early bird gets frozen to death.”

Quote by Myron Scholes

Author

Myron Scholes is a renowned economist born on July 1, 1941. He has made groundbreaking contributions to the field of financial derivatives pricing and risk management, particularly known for the Black-Scholes model developed with Robert Merton. more

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“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.”

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“I'm a theorist, not an institutionalist.”

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“A bank needs models to measure risk. The problem, however, is that any one bank can measure its risk, but it also has to know what the risk taken by other banks in the system happens to be at any particular moment.”

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“All models have faults - that doesnt mean you cant use them as tools for making decisions.”

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“If someone says to you, Go to an old-folks home, thats kind of ridiculous, because a lot of old people are doing terrific things for society.”

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“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.”

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“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.”

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“If we internationalize everything, we end up with rules that stifle freedom and innovation.”

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“I love a star print. I always get a lurch if I see a nice one.”

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“I grew up in the countryside, and I was obsessed with horses and wildlife.”

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