Scott Appleby, Robertson Stephens, SCH, EGRP, AMTD, DIR, TWE, MER,
Summary of nterview on Bloomberg TV, 4/17/00
Appleby thinks that SCH, EGRP, and AMTD are the best in online Brokerage and continue to pull away from the other stocks in revenues and market shares.
SCH #'s are showing extraordinary value, and is the best in self directed trading. Their percentage of margin of total asses is below 3%. SCH also has higher margin values, which is turning into higher % of revenue, which you seek in a bull market. Principle driver for SCH has been transactions and margin revenues, which have risen with bull market.
The rest of the eBrokerage market has suffered a weakness in their share price, but Appleby says that the sector growth has been great. He is estimating a sequential transaction of 50-55%. EGRP 72% of sequential transaction growth; AMTD had 84% of that growth and 47% sequential account growth.
Appleby thinks that AMTD and EGRP have been doing much better then the rest of the stocks and de-coupled themselves from the rest of the eBrokerage back.
Appleby thinks that the following eBrokerage stocks have fallen behind:
DIR, TWE, MER |
