12 Quotes by Arthur Levitt Jr.

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.

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.

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.

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.

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.

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

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.