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

To: LemonHead who wrote (4617)	10/5/1999 9:03:00 AM
From: Craig Richards	Respond to of 10027

I believe with the right amount of capital, money and technology it is easily duplicated I'm not sure this is really the case. KP has a lot of Wall Street experience, and my understanding is that NITE has some proprietary algorithms for profiting from market volatility. I think there is more than just money and technology to NITE's success. Also, don't short-change the first mover advantage - there's lots of trading desks that are conditioned to give orders to NITE, so how could another market maker gain that market share unless NITE screws up somehow?

To: LemonHead who wrote (4617)	10/5/1999 9:19:00 AM
From: Gary Korn	Read Replies (1) \| Respond to of 10027

Keith, Nice analysis! A couple of thoughts: the Original partners or investors would dilute the stock on a consistent basis once they were freed from jail. Those original partners/investors have already tapped NITE for after-hours trading (AMTD). In addition, those original partners/investors are anxious to get into Europe (see article posted on this a while back) and will, in my opinion, hook up with NITE on the implementation. For now I hold, more up side than down. IMHO It would seem so. The p.e. is now about 20, which is the same as the low end of the long term growth rate mentioned by KP back in July. Gary Korn