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.

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.

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

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

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.