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Non-Tech : Knight/Trimark Group, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Gary Korn who wrote (4066)	9/17/1999 8:42:00 AM
From: gbh	Read Replies (2) \| Respond to of 10027

Gary, this is astute analysis. The markets are supposed to be efficient, and this would be efficient. Unfortunately, they also tend to overshoot these targets (in both directions) so 27 might not be the bottom. Perhaps the only thing NITE management can be faulted for is not "managing" earnings a little better. No sure if that is really possible in this industry, like it is, say, in the "networking" industry, given it's so obvious when trading is slowing down. NITE is something of a victim of its own "hyper" growth phase. It got where it is, from an earnings viewpoint, very fast (too fast???) and now may have to settle back into being more of a cyclical stock like all the other financials. There is simply no easy way for a company to transition from quarterly sequential growth to yearly sequential growth without incurring pain. Gary