Gary (Becker), Danny (Kahneman), and Myron (Scholes)

Good precis here of the Nobel Laureates lunch today — Gary Becker, Danny Kahneman, and Myron Scholes — at the Milken Conference. My inner wonk loves this stuff. Sorry.


  1. John Hershenfeld says:

    In 2005, Scholes was implicated in the case of Long-Term Capital Holdings v. United States, where he attempted to invest funds from his company, Long-Term Capital Holdings, in an illegal tax shelter in order to avoid having to pay taxes on profits from company investments. It was found that Scholes and his partners were not eligible for $106 million in tax deductions they had claimed. Additionally, they were fined more than $40 million by the IRS.
    From wikipedia

  2. I’m aware. And that’s chump change beside what Scholes lost investors as a principal at LTCM. He’s a very bright guy who pushed the financial envelope too far for his own good.
    You know what though? I’m still happy to hear what Myron has to say at Milken.