A Quote by Arthur Levitt
It is incumbent on us to facilitate the development of a market structure that best assures that these changes benefit the U.S. securities markets as a whole.
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An optimised tax structure gives us the possibility of flexibility in using our assets that have already been taxed in one market. They can be used in new markets for further business development without the additional burden of double taxation.
We don't understand the equity market well, and so we deploy funds in fixed-income securities, and like any other securities, investment in those securities also need to follow the mark-to-market accounting principle.
There is a bit of a problem with the match between derivative securities markets and the primary markets. We have long ago instituted principles, essentially high margin requirements, to prevent certain instabilities in the stock market, and I think they're basically correct. The trouble is that there's a linkage, let's say, between something like the stock market and the index futures markets, and the fact that the margin requirements are very different, for example, played some role in the October '87 crash.
The development of the food industry for both domestic and export markets relies on a regulatory framework that both protects the consumer and assures fair trading practices in food.
I think we are incumbent, I am incumbent, the Who is incumbent, anybody that produces anything by me is incumbent by my Englishness.
It's a nightmare to administer some of this sort of thing, but I want to tell the shareholders of Berkshire, to the percent we own marketable securities or things for which there are market, even if those markets - I want to tell them what it's all about.
Direct flights facilitate business. They facilitate business-to-business collaborations. I think anything that makes it easier to bring two areas together is a significant benefit to deepening relations and connections.
Since the dawn of civilization, markets have been ubiquitous. Many of us have benefited from their focus and efficiency. Yet two widely held beliefs - that markets are best left unregulated and that markets are inherently benign - are naive and outdated.
Remember that banks aren't markets. The market is amoral. The market doesn't care who you are. You're a trade to the market. The market will sell you if they think you're riskier.
There is no human feeling to the US securities markets and sometimes no discernible evidence of human intelligence either. But they work.
The collateralized debt obligation, the CDO, is a structure which allows you to more or less continuously choose how much risk you want to take in a whole batch of securities. And the reason why they got us into so much trouble is that it's hard to figure out how much risk you really are taking.
The Fed should not be responding to the ups and downs of the markets, and it is certainly not our policy to do so. But when there are significant financial developments, it's incumbent on us to ask ourselves what is causing them.
Food is important for me, but as a restaurant group, to expand, you know, we have to look where the best market are - where the best markets are.
Over the past three decades, markets and market thinking have been reaching into spheres of life traditionally governed by non-market norms. As a result, we've drifted from having a market economy to becoming a market society.
However, if one has been playing the buy-and-hold game with quality securities, one has been exposed to a substantial amount of market risk because the valuations placed on these securities have implied overly rosy scenarios prone to popular revision in times of more realistic expectation. This is one of those times, but it is my feeling that the revisions have not been severe enough, the expectations not yet realistic enough. Hence, the world's best companies largely remain overpriced in the marketplace.
We have met our passion to be ambition to grow our market share significantly in North America. Motorola helps address two other priority markets for us - the acquisition has enabled us to become the No. 1 foreign vendor in Japan. It also gives us an increased market share with China Mobile in China.
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