Variants Due To Inflation
One problem with the Lehman Formula is inflation. A five million dollar deal was significant when the formula was designed in the 1960s, but today it is small. However, rather than indexing the formula for inflation, most investment services ended up making adjustments to the formula to provide fee protection for the first few million dollars of transaction value.
Read more about this topic: Lehman Scale
Famous quotes containing the words variants and/or due:
“Nationalist pride, like other variants of pride, can be a substitute for self-respect.”
—Eric Hoffer (1902–1983)
“Humanity from the first has had its vultures and sharks, and representatives of the fraternity who prey upon mankind may be expected no less in America than elsewhere. That this virulence breaks out most readily and commonly against colored persons in this country, is due of course to the fact that they are, generally speaking, weak and can be imposed upon with impunity. Bullies are always cowards at heart ...”
—Anna Julia Cooper (1859–1964)