Arthur Levitt Quotes
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.
Levitt, Arthur. Take on the Street: What Wall Street and Corporate America Don't Want You to Know. Pantheon Books, 2002.
Arthur Levitt Jr. is the former Chairman of the United States Securities and Exchange Commission (SEC). He served from 1993 to 2001 as the twenty-fifth and longest-serving chairman of the commission. Widely hailed as a champion of the individual investor, he has been criticized for not pushing for tougher accounting rules. Since May 2001 he has been employed as a senior adviser at the Carlyle Group. Levitt previously served as a policy advisor to Goldman Sachs and is a Director of Bloomberg LP, parent of Bloomberg News.