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.
Arthur Levitt JrToday 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.
Arthur Levitt JrGeorge Orwell once blamed the demise of the English language on politics. It's quite possible he never read a prospectus.
Arthur Levitt Jr