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

To: keta who wrote (1157)	5/19/1999 7:04:00 PM
From: Patherzen	Respond to of 10027

NITE meeting notes... From a Yahoo post: Rainy Day in N.Y.C.-meeting notes by: terinnet 23809 of 23838 Stockholders' meeting began at 1:05. Main speaker, no sur[prise, Ken Pasternak. The CFO went over the financials after that. This was their first stockholders' meeting (I hadn't really thought about this before) because they haven't even been public for a year. VERY POSITIVE about their outlook and their business. Pasternak made a point of emphasizing that keeping stockholders happy is a MAJOR priority. (Of course all of them are big stockholders, too!) I liked that, and as bet as I could tell he really meant it. This would tie in to his discussion of the upcoming ad campaign(a little to be seen this spring/summer, but most of it stasrts in the fall. No true word as to what these ads will be like, but he said something inmteresting which was that he thinks that not only will the ads increase consumer awareness of the "brand", but will also bring in new investors. KEY COMMENTS: 1) He thinks all current volume increase estimates are low. That would mean that current estimates by the N.Y.S.E. of 3.5bb. share days by 2002 are low. He must have said at least three or four times "Volume and Volatility are our friens", so I am making that my mantra on this stock. 2) Europe on schedule, ISE on schedule. Both have the potential to be "as big as Knight or Trimark" (I know, I know, Knight and Trimark are different sizes, but that's what he said.) 3) They have the capacity to handle 1.2mm shares per day and are in the process of developing an exchange(?) where they handle 2.5-5mm shares per day. 4)_ Thinks that after hours trading will have a slow start. He is really not that gung-ho on it. Sounds as though he's all ready to jump all over it if it works, but he's not sure there's going to be great pricing/execution/volume etc. 5)Will use cash for the ISE and Europe and basically said the same thing that most smart CEO's say when asked about aquisitions. If it's cheaper to buy something strategic than to create it, he will buy it. (Perhaps some MM consolidation, as you know they made two acquisitions last year.6) Was absolutely "mum" on anything to do with the very near term, as in anything that would have bearing on predicting Q2 eps. --------------------------------------------------------------------------------