Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: peter michaelson who wrote (11985)	7/24/1998 11:54:00 AM
From: Oeconomicus	Read Replies (2) of 18691

Peter, while I would agree that 'net banking will be BIG and I'd even agree that NTBK enjoys some cost advantages, they also have some serious disadvantages. Lack of an ATM network that customers can use without a fee is one. Lack of visability in the community is another as they would have to spend more (relative to their size) on advertising to attract customers. Word of mouth is great on the Internet, but that can only carry them so far. I also wonder about their ability to grow a profitable loan portfolio online. So far, they have grown by attracting techies and hot money chasing high yields, but they need fat interest spreads and big volumes to make it work in a big way. Somehow, I don't think most Wachovia customers are going to switch to Atlanta Internet Bank so they can then mail in deposits and pay ATM fees back to Wachovia and NationBank in order to get cash. Especially when Wachovia offers online services as well as branches and ATMs. If you want to make money off of Internet banking, help the big banks provide the service. Don't compete with them. Or, just buy SFNB. <G> Bob

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