Myron Scholes Quotes

Myron Scholes — Canadian Economist born on July 01, 1941,

Myron Samuel Scholes is 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... (wikipedia)

Every side of a coin has another side.

Most of the time, your risk management works. With a systemic event such as the recent shocks following the collapse of Lehman Brothers, obviously the risk-management system of any one bank appears, after the fact, to be incomplete. We ended up where banks couldn't liquidate their risk, and the system tended to freeze up.

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

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.

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 Quotes

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