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As the builders say, the larger stones do not lie well without the lesser.

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Myron Scholes

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.

1960S, 1970S, Consultant, Fargo, Late
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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.

Compelling, Compelling Reason, Reason, Running, Simple, Types

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

Bird, Early, Frozen, Sometimes

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

Ends, Innovation, Internationalize, Scholes, Stifle

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

Decision, Decisions, Making, Mean, Tools

Every side of a coin has another side.

Coin, Coins, Scholes, Side, Sides
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