A Quote by Merton Miller
So everybody has some information. The function of the markets is to aggregate that information, evaluate it, and get it incorporated into prices.
Related Quotes
Everybody has some information. The function of the markets is to aggregate that information, evaluate it and get it incorporated into prices.
Money and prices and markets don't give us exact information about how much our suburbs, freeways, and spandex cost. Instead, everything else is giving us accurate information: our beleaguered air and watersheds, our overworked soils, our decimated inner cities. All of these provide information our prices should be giving us but do not.
All sources are not equal. When you get information, you take the information, you evaluate it, and you do the best you can with it. So, there's a variance in the quality and the amount of the information. It's a case-by-case basis. Each one's different. There's no set formulas.
If you let markets - in general, my belief is that if you let markets give you information, they'll give you the information rather than artificially prop up everything.
I don't think information overload is a function of the volume of information. It's a derivative of the volume of information plus the sense-making tools you have.
Well, there's a question as to what sort of information is important in the world, what sort of information can achieve reform. And there's a lot of information. So information that organizations are spending economic effort into concealing, that's a really good signal that when the information gets out, there's a hope of it doing some good...
Well, there's a question as to what sort of information is important in the world, what sort of information can achieve reform. And there's a lot of information. So information that organizations are spending economic effort into concealing, that's a really good signal that when the information gets out, there's a hope of it doing some good.
Capitalism has taught us that markets are always more efficient than hierarchical managerial coordination. But in a situation where those three conditions aren't met, I can't outsource or partner with you because markets don't function in the absence of sufficient information.
I think there's confusion around what the point of social networks is. A lot of different companies characterized as social networks have different goals - some serve the function of business networking, some are media portals. What we're trying to do is just make it really efficient for people to communicate, get information and share information.
If you have information that a company is not as good as its stock market valuation, you don't have a way to sell that stock unless you already own it. And so that information doesn't get incorporated in the company's stock price as fast if you don't allow short selling.
The proposition is that prices reflect all available information, which in simple terms means since prices reflect all available information, there's no way to beat the market.
I favour passive investing for most investors, because markets are amazingly successful devices for incorporating information into stock prices.
Of course. I favor passive investing for most investors, because markets are amazingly successful devices for incorporating information into stock prices.
We all have so much access to the information on the Internet and in books, but we don't necessarily get that information in a usable way so that we can turn information into action.
If we live in a world where information drives what we do, the information we get becomes the most important thing. The person who chooses that information has power.
Memorizing information is valuable but only if you're able to make some sense of the information and put it into a useful context. Isn't it much better if we can attach something tangible to that information?
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