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Non-Tech : E*Trade (NYSE:ET)
ET 16.40+0.2%Dec 17 3:59 PM EST
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To: Diamond Jim who wrote (7374)6/29/1999 1:17:00 PM
From: WhySoSoon   of 13953
 
re: "If"

Focus on account growth, this is a more stable and better indicator.
P = N * $8,000 / S

where P = fair market share price
N = number of accounts
S = shares outstanding

e.g. N = 1,300,000 and S = 233,234,000 then fair value P = $44.50
just plug in your guesstimate of the # of accounts and the number of shares outstanding, you will get it. If E*Trade have 2 millions accounts, then (before factoring in the TBFC purchase), P would be $68.60 (very close to the Lehman's 12 months projection). Therefore, watch the account growth closely.
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