Arthur Levitt Jr Quotes

Although the Internet makes it seem as if you have a direct connection to the securities market, you don't. Lines may clog; systems may break; orders may back-up.

I think that the failures of Enron and WorldCom and other companies are partially failures of investors to recognize companies that are selling for a thousand times nothing, but chances are they may be worth only that.

Another misconception is that an order is canceled when you hit 'cancel' on your computer. But, the fact is it's canceled only when the market gets the cancellation.

Over the past two decades, we have clearly seen an erosion of ethical values.

I think we have got to start thinking about banding together in terms of interested groups.

Firms need to ensure that their ability to provide effective customer service keeps pace with their growth. If you're marketing your firm to new customers, you better be able to provide them service when they do business with you.

George Orwell once blamed the demise of the English language on politics. It's quite possible he never read a prospectus.

We should never lose sight of the underlying essence of a market-a place where buyers and sellers come together. Every other feature-whether crafted by tradition or technology-exists only to serve that primary purpose.

One way for investors to protect themselves from a rapid change in the price of a stock is to use a limit order rather than a market order.

Today it's fashionable to talk about the New Economy, or the Information Economy, or the Knowledge Economy. But when I think about the imperatives of this market, I view today's economy as the Value Economy. Adding value has become more than just a sound business principle; it is both the common denominator and the competitive edge.

Investors should start with a view of skepticism. They should become intellectual investors rather than emotional investors. They should be careful, and they should be skeptical.

Personally I don't think day traders are speculating, because traditional speculation requires some market knowledge. They are, instead, gambling, which doesn't.

Today, the forces of competition, technology, and globalization have converged to spur innovation and to transform the way business is done in the securities industry.