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Non-Tech : TD Waterhouse Group (TWE) -- Ignore unavailable to you. Want to Upgrade?

To: Proton who wrote (1183)	4/14/2000 12:04:00 PM
From: OldAIMGuy	Read Replies (1) \| Respond to of 1413

Hi P, "It appears that the recent incompetence and arrogance of online brokers was one sign of an impending market top." Yes, the same could be said of many incompetent and arrogant on-line investors. Margin debt as a percent of GDP had blown off the top of any chart that ever existed. People were thinking with their irrational protuberance!!! Best regards, Tom

To: Proton who wrote (1183)	4/16/2000 11:22:00 AM
From: Proton	Read Replies (1) \| Respond to of 1413

Re: Brokers and Margin Revenue Most importantly, margin buying (and the tremendous profits margin interest provides) has imploded. Barron's analyzed the impact of margin on revenues at nine selected brokerages. *TD Waterhouse derives 22% of its total revenues* from margin interest.** The margin orgy has been postponed. Brokers who depend on margin interest revenues may not see profits for a long time. Does TD Waterhouse fall into that category? P.