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Having given it some thought, I think I agree with the idea that ETrade has too much biz too handle. I like the idea that they are cutting back expenses. It seems clear they need to ramp up some of their tech to deal with demand, as the complaints about service have gotten more frequent. They are not alone. The Bank of Montreal's Investorline has been impossible to access. 1 hour telephone waits, excessively slow pages. And they are a tiny little backwater operation compared to ETrade. TD Waterhouses' Greenline has been adding an extreme number of new clients, according to a friend of mine who works there. The wave of millions that were predicted long ago are pouring into this thing. It's population driving up values on top stocks and the Naz, as far as I'm concerned. New money that has not yet figured out that some of these companies will need a century to catch up to valuations...So, I find it credible that ETrade needs to slow down the acquisition process, as it seems likely they've reached a critical mass of late. What this will mean for numbers is another issue. Maybe they just decided to try and turn us all on by announcing nearer-term profitability. Naturally, for all you naysayers out there, I will hazard to guess that perhaps we will hit $30 a share sometime in the next ten years, if we're lucky. No one will be more amazed than myself if we actually have some kind of run, nevermind new highs, splits, upgrades, etc. God forbid such a shabby operation command any sort of premium...heh... |
