Knight/Trimark Group, Inc. Message Board

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Non-Tech : Knight/Trimark Group, Inc.

KCG 20.00

0.0%

Aug 17 5:00 PM EST

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To: Bob Kim who wrote (3430)	8/11/1999 8:22:00 PM
From: S. M. SAIFEE	Read Replies (2) of 10027

Morgan, I think management was smart to cancel the buy back when the stock in sixties in July and rather use cash to buy interests in Europe. I read thru 10Q and came out with one simple observation that this company is pure cash entity and very liquid one. If I understood right they have cash assets of 600 million about $ 6 per share. The operating expenses are increased due to growth but as percentage of net revenue expenses are going down. I did not see any contraversial items. As far as buy backs are concerned it was quite remarkable that NITE being so young company after year as public entity considered stock buy backs. How many other inter net related companies ever considered stock buy back? Most of them kept the stock holders value by announcing multiple stock splits without much improvement in book values. Talking about liquidity...just heard on CNBC that insurance giant american general has liquidity crisis...it can convert their assets into cash fast enough to meet obligations.

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