Agree with you - local branch is pretty good, when you get through. However, calling up the web folks is dreadful! I've pretty much given up trying to even call them when I have a problem. However, of late, I've found the web customer care folks quite responsive.
With regards to the value - frankly, I've compared them to AMTD, SCH, NDB, EGRP, etc. - and IMHO TWE is currently quite undervalued - from a simple revenue, profitability, L/T debt, and market cap perspective. I got 300 shares in the IPO, I'm loading up on more - I look at them as a $48-50 stock at least. I think their underwriters will start pounding the table in a couple of weeks with strong buys. Also, what appeals to me is that they are established overseas. They will be able to jump on those bandwagons soon. What DOES worry me is that their average customer has a lot less with them in their accounts than the average customers at some of the other brokerages. What DOES worry me is the entry of ML into this space. Apparently, SSBarney already has a pricing model similar to ML's. So, I don't know how these players plan/expect to compete in the long run. On the other hand, who the hell's thinking about the long run in this market - I've started holding my breathe for the crash. :) |
