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

To: Madharry who wrote (4826)	10/11/1999 12:01:00 PM
From: gbh	Respond to of 10027

My take on this is that if the earnings lack visibility that will really affect the pe ratio to the downside. Also if Pasternak cannot project a quarter's worth of earningss what credibility does a long term growth rate have given all the changes facing this industry? Armin, this really hits the nail on the head. By definition, NITE can't have much in the way of visibility. We can speculate on volumes increasing, but that's about it. I think the only opportunities for "predictable" growth lie in expanding the business. And each of these proposals are still a ways out. The credibility issue here is key. KP has really shot himself (and us) with this blow up quarter. And too make a statement that "30% YOY" is achievable is tough to accept at this point, given the YOY comparisons will not be getting any easier after this quarter. Gary