Arthur Levitt Jr Famous Quotes
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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.
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.
Personally I don't think day traders are speculating, because traditional speculation requires some market knowledge. They are, instead, gambling, which doesn't.
George Orwell once blamed the demise of the English language on politics. It's quite possible he never read a prospectus.
But when that information travels only to a privileged few, when it is used to profit at the expense of the investing public, when that information comes by way of favored access rather than by acumen, insight or diligence, we must ask, 'Whose interest is really being served?'.
While fund performance is unpredictable, the impact of fees is not, .. A 1- percent annual fee will reduce an ending account balance by 17 percent after 20 years.
