"Junk bonds prove there's nothing magical in a Aaa bond rating"
- Merton Miller
About this Quote
This quote by Merton Miller is referring to the fact that a bond score of Aaa does not ensure that the bond is a safe investment. A bond ranking of Aaa is the highest ranking a bond can receive, and is generally related to a low risk of default. Nevertheless, Miller is recommending that even bonds with an Aaa rating can be risky investments, and that investors ought to not rely entirely on the ranking when making choices. He is indicating that scrap bonds, which are bonds with a lower score, can still be profitable financial investments. Miller is highlighting that there is no guarantee of success when buying bonds, and that investors need to do their own research and due diligence prior to investing.
This quote is written / told by Merton Miller between May 16, 1923 and June 3, 2000. He/she was a famous Economist from USA.
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