Spytrader--Thanks for the reassuring post. I don't think there's any question that Cotsakos knows what he's doing, and the fact that Briefing.com agrees with the move is good news, as they are one extremely sharp outfit, IMO. I agree with them that the drop today has little to do with the acquisition, it has to do with MER finally(!) coming online (still six months from now...) after denigrating it to the skies. What an irony.
MER is hardly going to crush E*Trade--that's ridiculous, and only shows the naivete of the poster (shorter?). E*Trade is growing by leaps and bounds, easily has the most developed global expansion plan of any of the online brokers, and is developing amazing synergies in their acquisitions. I will admit that MER will obviously be a factor in the online business, but everyone knew that the big boys weren't going to be able to stay out forever; the truth is, however, that they haughtily waited far too long (the Barnes & Noble/Amazon example is a perfect one), and now the cow hasn't only left the barn but has wandered purposefully into the next county. Good luck, Farmer MER, rounding her up... |
