To: Jenna who wrote (50027 ) 7/12/1999 4:39:00 PM From: Connor26 Respond to of 120523
Jenna - bankers..... Wit Capital (www.witcapital.com) is another groundbreaking firm, focusing on Internet stocks with the ambition to distribute them to individual investors. There are some well respected professionals at this firm with plenty of expertise, gained from their years at large brokerage firms. They definitely know how to evaluate and price new issues. They're also trying to add one more investing feature: by the end of 1999, they expect to have a digital trading facility that allows clients to trade NASDAQ and listed securities directly with other investors without having to use the market makers or specialists. And that will be available 24/7. Of course, there are many a slip 'twixt cup and lip and a truly functional, usable system by individuals without an intermediary has been discussed for years and no one has put one together yet. Even the NYSE has postponed any talk of after hours trading until after January 1, 2000 so they can deal with any possible problems that Y2K might bring. But Wit Capital is trying to revolutionize the individual investor's experience by offering IPOs directly over the web and this new trading program. Definitely a firm with a mission. The third firm, just getting its offerings out, is E-Trade (www.eoffering.com). With a large client base already in place, it was a natural for E-Trade to offer IPOs. One of the participants will be Sandy Robertson from Robertson, Stephens, a West Coast investment banking firm that he founded and then sold to Bank of America. It specialized in high tech stocks. This new investment bank is billing itself as the Netcentric Investment Bank, referring both to its distribution channel and its offerings. Again, you'll have to have an account with this firm to participate in their offerings so if you like what you see in their write-ups on the IPOs they're bringing, make sure you get your account set up well in advance of the offering if you want to buy it. Connor26