J. V. Bruni and Company
1528 North Tejon Street
Colorado Springs, Colorado 80907
(719) 575-9880 or (800) 748-3409
J. V. Bruni and Company1528 North Tejon Street Colorado Springs, Colorado 80907 (719) 575-9880 or (800) 748-3409
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Take on the Street,
by Arthur Levitt.
 Although Arthur Levitt is not an expert
on investing, as the former chairman of the Securities and Exchange
Commission (SEC), he is assuredly an expert on corporate governance.
Indeed, Mr. Levitt's tenure at the SEC during most of the 1990s (the
real
"decade of greed") gave him an unprecedented vantage point from
which to observe and ultimately to report on the numerous Wall Street
and corporate scandals of that decade. He provides the reader with a
clear description of many of the shenanigans that ultimately cost
amateur investors untold billions in the aftermath of the late 1990s
stock market bubble. Indeed, I think it is fair to say that without the
accounting scandals and biased Wall Street research so prevalent in the
1990s (and so well documented by Levitt in this book), there never would
have been a market bubble of the proportions we experienced. This
timely book convincingly illustrates the difference between ownership
(by stockholders) and control (by management) in American companies, and
every investor would gain by reading it. |
"During my lifetime, the small investor has never had a better friend than former SEC chairman Arthur Levitt." Warren Buffett |