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Expert Profile: Warren D. Miller, CFA, ASA, CPA

Expertise:  My in-depth knowledge of economics is confined to three sub-disciplines: Austrian economics, industrial organization, and evolutionary economics. Other questions dealing with macroeconomics, the traditional neoclassical paradigm, labor economics, environmental economics, agricultural economics, health economics, and so on should go to those who have the appropriate expertise. N.B.: I DO NOT ANSWER QUESTIONS MARKED 'PRIVATE' because I believe that knowledge should be shared, not hoarded. I also believe that such questions are likely to come those trying to cheat. Similarly, as one who was a full-time academic for half a decade, I can recognize test and homework questions several time zones away. Therefore, please do not demean yourself by submitting such questions to me. Those who do so are cheating, pure and simple, and I WILL call you out publicly if I believe you are doing so. I have a zero-tolerance policy where cheating and dishonesty are concerned. In addition, please don't be like the businessman who posted a request for help in August 2008. He expressly denied that he was seeking "investment advice" and said that his query was for, and I quote, "educational and informational purposes." In a follow-up query, however, he allowed as how his first questions related to the possible purchase of a $500,000 piece of equipment. Well, he was trying to get for free the kind of sophisticated advice that our clients pay for. I told him that I thought he had not been forthcoming in what he said initially (I was being polite). Bottom line is this: high-end business consulting is what I do for a living. I am the sole support for my family. Please respect that fact and don't try to steal what our clients pay for. That demeans you and insults me. Finally, please DO NOT ask for investment advice. I am not licensed to provide such advice. If you want such advice, check with your financial planner or other financial adviser.

Experience in the area
I work with Austrian economics (which is different in major respects from the traditional neoclassical model), industrial organization (which is about industry structure, conduct, and performance), and evolutionary economics (almost, but not quite, the economic analog of its biological counterpart) everyday in my work. I appraise closely-held businesses, provide exit-planning services, and offer high-level strategic analysis, advice, and clients to CEOs and owners of mid-sized businesses. Understanding, applying, and writing about these disciplines is an essential part of how I have made my living since 1993.

Organizations
CFA Institute, Strategic Management Society, American Society of Appraisers, Institute of Management Accountants, Academy of Management, Culver Legion

Publications
CFA Magazine, Strategic Finance, Valuation Strategies, Value Examiner, Journal of Advanced Property Economics, Harvard Business Review, American Fly Fisher, CFA Digest, CPA Expert, and Business Valuation Review, among others

Education/Credentials
MBA - Oklahoma State (1991) BBA - U. of Oklahoma (1975) Chartered Financial Analyst designation (2006) Accredited Senior Appraiser (2006) Certified Management Accountant (1992) Certified Public Accountant (1992)

Past/Present Clients
Confidential

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Something controversial or provocative about this subject  AE, IO, and EE are fascinating!! And I'm not even a trained economist. I wake up most mornings astonished (and delighted) that I can get paid for doing what I love to do.
Something interesting about this subject that others may not know:  Industrial organization is about behavior! Wow - a branch of economics that is not deterministic. Who'd've thunk it?! And Austrian economics is the real deal, unlike all of those silly assumptions that underpin the neoclassical model.
What do you still hope to achieve/learn in this field?  Besides wanting to continue to expand my knowledge of Austrian economics, I hope to learn more about industrial organization in countries other than the U.S. And I hope to continue to carry the message that the neoclassical microeconomic paradigm that most of us learned in college is seldom useful to practicing managers.
What do you like about this subject?  Learning Austrian economics in the last two years has helped me understand many phenomena that I heretofore scratched my head about. Industrial organization and evolutionary economics are also real-world. EE posits that each firm is endowed with unique, immobile resources. Managers must mold those in ways that are valuable, rare, and inimitable.
Average Ratings
Prestige Points: 2470
Knowledge   9.84   Best of the best
Clarity of Response   9.76   Best of the best
Timeliness   9.84   Best of the best
Politeness   9.95   Best of the best
Number Of Questions
(in Past 24 Hours)
1
Max Questions to be Asked
(in 24 Hour period)
6
Total Questions
(since joining AllExperts)
310
Recent Reviews from Users
KnowlClarityTimePolitenessDate
1010101010/08/08
1010101010/01/08
1010101009/30/08
1010101009/30/08
1010101009/22/08
User Comments
Thank you for your helpful answer. Al Brown
(Al on 10/08/08)
Thanks Warren, that was a big help to me. Blanchjoe
(blanchjoe on 10/01/08)
I must say the idea that economics is not politics is a highly political one. But great thanks.
(Lugo on 09/30/08)
THanks a Lot Sir for the wonderful explanation
(manasi_1381 on 09/22/08)
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Recent Answers from Warren D. Miller, CFA, ASA, CPA
2008-10-10  Intrapolation of LIBOR Dear Alex-- Thank you for your speedy reply. You're asking a complex question that, in all honesty, requires whoever is going to help you to see the underlying documents. There is a level of complexity...
2008-10-10  Intrapolation of LIBOR Dear Alex-- I need to know more about the context of your question. For instance, WHY are you "supposed to compute accrued interest on certain delayed payments"? What's the context? Is this on your...
2008-10-08  depression and recession Hi, Al-- Thanks for a very timely question, and thank you for using AllExperts.com. I'm happy to respond. Let me lead off with a great comment that President Reagan made. As I recall, it was during...
2008-10-06  Current economic recession Dear Cate-- (10-08-2008 - I've revised my original answer based on research I have subsequently done.) Thanks for your question. I'm no expert in consumer finance, but I have some thoughts that I...
2008-10-06  economic growth Scott, this is far outside my area of expertise. However, it's an interesting question. Before I provide you with a link or two, let me say this: 1. Countries that are free societies--secret ballot...
More Answers for "Economics"


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