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Junk bonds prove there's nothing magical in a Aaa bond rating.

Merton Miller

#bonds #junk #magical #nothing #prove

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Did you know about Merton Miller?

Macroeconomics: A Neoclassical Introduction. ; R. Miller (1991).

He shared the Nobel Memorial Prize in Economic Sciences in 1990 along with Harry Markowitz and William Sharpe. Miller spent most of his academic career at the University of Chicago's Booth School of Business.

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