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: Herschel Rubin who wrote (3740)	9/1/1999 7:46:00 PM
From: Gary Korn	Read Replies (1) of 10027

Herschel, Today's news about the sale by TD Waterhouse of 1MM shares was unsettling, but at least it explained the weakness of the stock. Who knows why Waterhouse sold? Maybe, given OLB weakness, they needed to lock in some additional investment profits to help meet earnings (you can't meet earnings with unrealized gains). Also, maybe they just wanted to hold 8.5MM shares rather than 9.5MM. Incidentally, AMTD has something like $100MM of unrealized gain. Somewhere along the line, it too may want to take some of that gain for bottom line earnings. Importantly, individual insiders really aren't selling. KP has sold only about 100,000 of his shares to date, leaving him with 7.71MM shares. That is one huge bet on the future of this company. As a long termer, I just don't see selling now to wait for insiders to finish their own sales. (Imagine KP selling now, then buying back his 7.71MM shares later in the year). Gary Korn

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