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Technology Stocks : Internet Guru Discussion -- Ignore unavailable to you. Want to Upgrade?

To: steve harmon - analyst who wrote (1126)	4/17/1999 5:57:00 PM
From: Crossy	Read Replies (3) \| Respond to of 4337

Steve & all, what do you think about brokerage stocks with a POTENTIAL internet appeal ? Should the current massive surges of many brokerage stocks and e-brokerages in particular be limited to the U.S. ? I found this beast here in SWITZERLAND and it's not an insignificant player, actually number 3 or 4 worldwide in the fields of commodity brokerages.. CFT .. Compagnie Financiere de Tradition, listed in Switzerland, already 3rd/4th largest commodities broker in the world. Stock seems to have been somewhat discovered, although valuations are quite low in contrast to American counterparts. While the stock this is about is not an online brokerage yet, it might become one, due to some strategic steps the company recently undertook. I don't know too many details about this company but the company doesn't seem so small, not even judging by US terms, so I conclude this might turn into something real significant. I'm talking about a company in Switzerland, Swiss ticker symbol "CFT", called Compagnie Financiere de Tradition. Well this company is, by chance the 3rd largest commodity broker of the world with annual revenue of around $400 million sfr (swiss franks). Stocks last traded at 124sfr. Swiss valor (ID) number of stock is 967679, general securities id (WKN) is 870121. Web Adress is: www.tradition.ch . Free realtime quotes can be obtained thru www.swissquote.ch, ticker symbol "CFT". Well, there are just 1 million shares outstanding. Company is profitable, PE is 10. Price to sales is 0,30. And now comes the real nice story, the company bought a major stake in INFOTEC (www.infotec.ch). Info tec is an -> ONLINE FINANCIAL SERVICE PROVIDER, I'd compare it to Omega Research and PC-Quote. There is a real chance that here is an online brokerage being formed, a completely European brokerage idendity of worlwide importance is being created. Comparing the PSR of 0,3 to EGRP & AMTD's PSR of 30 I have to stress that CFT is not yet ripe for electronic trading. Anyhow interesting that the first steps seem to be in place now. best wishes CROSSY