Myron Scholes
Myron Scholes
Myron Samuel Scholesis a Canadian-American financial economist. In 1997 he was awarded the Nobel Memorial Prize in Economic Sciences for a method to determine the value of derivatives. The model provides a conceptual framework for valuing options, such as calls or puts, and is referred to as the Black–Scholes model. Together with fellow Nobel prize winner Robert C. Merton he founded the hedge fund Long-Term Capital Management which dramatically collapsed in 1998...
NationalityCanadian
ProfessionEconomist
Date of Birth1 July 1941
CountryCanada
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.
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.
If we internationalize everything, we end up with rules that stifle freedom and innovation.
Sometimes the early bird gets the worm, but sometimes the early bird gets frozen to death.
I'm a theorist, not an institutionalist.
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.
Every side of a coin has another side.
All models have faults - that doesnt mean you cant use them as tools for making decisions.