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Non-Tech : E*Trade (NYSE:ET) -- Ignore unavailable to you. Want to Upgrade?

To: WhySoSoon who wrote (6647)	5/30/1999 3:05:00 PM
From: Jerry Miller	Respond to of 13953

very well done.

To: WhySoSoon who wrote (6647)	5/31/1999 5:22:00 AM
From: Sten Frelles	Respond to of 13953

Good post.... I think much too little attention is being given on this thread to the fact that E*trade is one of the only OLB's which has actively been pursueing an internaltionalization strategy. Even though the internet (and i-brokerage sector) is still US dominated in terms of users and transaction volume, that picture will change radically as home-penetration rises dramatically in Germany, the UK, France, and Japan over the next few years, And on-line trading catches on all over the world. IMO none of the OLB's will be truely successful if they do not have a considerable global presence in 3-5 years (which is not built overnight). EGRP's management have done an excellent job of starting up intl. expansion at an early stage, through a cost-effective licensing model, that will permit them to get good intl. coverage, gain customers and build their brand, while keeping fixed costs at a minimum. Eventually we will hit 24/7 real time on-line global trading - and at that point you won't want to have only US customers since: 1. Most individual investors (in all countries) will have an interest or even preference for buying into companies they know (i.e. local players). 2. As markets swing, it will be necessary to have geographical spread for the OLB's to avoid being caught by regional bear markets (which translates into lower revenues). 3. The rest of the world is just to big a market to ignore, if you want to achieve critical mass. Together with EGRP's other strenghs - they shouldn't have any problem in outrunning and outperforming the 2nd tier OLB's (DLJ, Datek, Waterhouse, Ameritrade). Only competitor which could stand up to EGRP is Schwab. EGRP is here to stay. And they are going for the "Gorilla" seat in the race to build the most efficient global OLB.