SIEB Siebert Financial Brokerage Message Board

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Technology Stocks : SIEB Siebert Financial Brokerage

SIEB 2.640

-0.4%

Nov 7 9:30 AM EST

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To: songw who wrote (7)	3/24/1998 8:35:00 AM
From: Anthony Marchese	Read Replies (1) of 284

Anyone buying SIEB on fundamentals has to have their head examined. Even at 37 1/2, the stock is trading at 75 times trailing earnings and almost 19 times book value! Most brokerage stocks are bought out at about 3 times book, with the exception of Montgomery Securities, which recently was bought at 5 times book because of their fabulous investment banking income. Couple that with the fact that SIEB's earnings and revenues have been flat for the last several years and I fail to see where anyone would pay more than 5 times book, or $10 per share for the stock, in a buyout. In addition, the Muriel F. Siebert Foundation recently filed to sell 52,000 shares, not exactly a vote of confidence in the current stock price. Don't get me wrong, I think SIEB is a nice little company but is it worth more than $10 per share? No way on a long term basis, no matter what the current market value suggests.

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