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Non-Tech : Wit Capital - The way of the future? -- Ignore unavailable to you. Want to Upgrade?

To: Praetor who wrote (5748)	6/28/1999 4:51:00 PM
From: majormember	Read Replies (2) \| Respond to of 16809

>>We're close to the end of the Quiet Period, aren't we? Quiet period over today....if we get upgrades tomorrow (which is a good bet), we can really fly.... cbs.marketwatch.com

To: Praetor who wrote (5748)	6/28/1999 5:13:00 PM
From: Scott Kessler	Read Replies (2) \| Respond to of 16809

My theories as to why Wit's done so well lately: 1) Resurgence of Net IPO mkt. (JNPR, ARBA, PHCM, STRM, RBAK). 2) Anticipation of positive analyst comments in the near future from underwriters (Bear Stearns, Thomas Weisel). 3) Pipeline of strong IPOs, both Net and non-Net (1-800-FLOWERS.com, Blockbuster, Mypoints.com, Webstakes.com) 4) Goldman's 22% investment -- possible acquisition down the road. Goldman doesn't have a real retail presence. GS also owns 25% of Island ECN (EGRP also owns 25%). Could be a nice package... 5) Wit's relationship w/ Goldman and Bear Stearns put it in prime position to continue to offer shares of top-flight stocks. 6) Firming of Net brokers (which have fallen significantly after Merrill announced its plans to enter space). 7) Wit's plan to offer 24-hr. trading -- enforces perception that it is a technology leader. 8) Well-thought-of mgmt. team. Includes former Vice Chairman of SSB and Schwab executive. I must admit, however, that I heard the team was pretty arrogant during at least one road show meeting w/ a money mgr. 9) New research dept. doing impressive work. Prior to leaving Merrill, Jonathan Cohen was considered one of the smarted Net analysts on the Street. 10) Rumored buying by Munder Net Net fund. 11) Improvements made in: customer service, web site speed and offerings, IPO allocation procedures. Satifying new and old customers. 12) Assets in and number of accts. increasing due to success of IPOs. 13) Deal w/ CMGI to be custodian of direct stock plan for its IPOs also leading to increase in assets and number of accts. Also, prospect more-involved CMGI relationship looming. Could an equity investment be down the road? I don't believe CMGI has invested in any e-brokers at this point. 14) Thin float and added publicity from its IPO, performance and the performance of its and other Net IPOs contributing to momentum.