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.

Comments and Image

We sometimes take for granted the freedom and power of independent thought and action. And only after it's been compromised, do we fully realize how fundamental it is to the pursuit of economic opportunity.

Comments and Image

It is not the pace of technology or the brilliance of innovation that guarantees the success of our markets, but rather an unyielding commitment to quality... Quality, at its broadest and most basic level, is the protection of the investor interest. This principle reaffirms a simple and salient truth-markets exist by the grace of investors.

Comments and Image

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.

Comments and Image

At its most basic level, a market represents an agreement between two people. For that market to sustain long-term health, those two people must honor that agreement. They must trust each other... you can have all the technology and global forces you want, but it's useless if basic trust does not exist.

Comments and Image

For most individuals, the stock market is best used for investing, not trading...On-line trading may be quick and easy; on-line investing requires old-fashioned elbow grease like researching a company or making the time to appreciate the level of risk. I'm often surprised by investors who spend more time deciding what movie they'll rent than on which stock to buy.

Comments and Image

If past is prologue, many new companies rushing to market today will not be around for the long haul, perhaps not even a few years from now. Investors today cannot fall prey to an urge that tells them it's okay to suspend good judgment and invest with their eyes closed and their fingers crossed.

Comments and Image

Much of today's activity highlights an important difference between trading and investing. Trading is buying in the belief that the stock price will rise � regardless of what the buyer actually thinks it's worth... Investing for the long term means focusing on the fundamentals that make up a solid company... no matter how revolutionary change is.

Comments and Image

Successful investors, through good times and bad, focus a vigilant eye on managing risk. Periods of promise and prosperity are not an excuse for us to let our guard down. In fact, it's times like these when we need to raise it even higher.

Comments and Image

These are not easy times. Pressures proliferate. Responsibilities overlap. Objectives run counter to each other. Demands often are at cross-purposes. But, investors, regardless, continue to value companies that achieve value through honesty and hard work.

Comments and Image