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Non-Tech
SWS - An undiscovered gem
An SI Board Since January 1999
Posts SubjectMarks Bans Symbol
504 11 0 SWS
Emcee:  CRay33 Type:  Unmoderated
Introduction Market Data Compact
It looks like Dick Bove at Raymond James has recommended a good company - Southwest Securities. They own "mydiscountbroker.com" along with other regional finance-related businesses in Texas. Mr. Bove's 12-month target is $44. Quietly, SWS has rolled out a new trading system and built up an internet-based brokerage which is running 100,000 trades per day - 3X the volume of EGRP or AMTD. The value of their 1.7 million shares in NITE corrects the stock price downward approximately $7/share to around $23. At this level their P/E is closer to 10 (they actually have earnings) plus their P/S is 1 and they have no long term debt.

Their relationship with NITE interests me. Given...

1. NITE's near monopoly position as the internet stock market maker.

2. The larger positions owned by other larger broker/dealer/owners of NITE such as EGRP, AMTD, MWD (Waterhouse), TD.TO...,

3. NITE's average daily volume of 215K trades/day in their Q4, and,

4. SWS stated rate of 100K trades/day...


... it seems that the SWS business is accounting for quite a large portion of NITE's daily trading volume (50% or more?). I would think this is a good thing for SWS and its investment potential. Not to mention the brokers charge a commission in both bull and bear markets. There are many other facts/figures which are also compelling but are too numerous to mention here. But suffice it to say, I've taken a nice position and I invite the perspective of others. Any comments?
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ReplyMessage PreviewFromRecsPosted
504Well SWS may have found a bottom at $5 and change finance.yahoo.com What I finMad2-3/12/2012
503The trailing 12 months PE is 18.53 while the forward PE is 11.33, which indicatejeeee4-4/30/2010
502anybody knows what is going on with SWS ?? up nicely today. jgmfgrep-5/4/2001
501Oh, I forgot to post an article about MDB in the San Jose Mercury news. It was John Finley-4/26/2001
500seems to be steadily rising......kinda like a senior citizen trying to get arousmfgrep-4/26/2001
499Yeah...but I've been holding this so long....I'm a loser (Beck: "Imfgrep-4/18/2001
498It's up over 15% today. Not too catarkic <gg>. JFJohn Finley-4/18/2001
497thank god for my college education and experience in the financial industry. Duemfgrep-4/18/2001
496Hi Guys, I've been thinking about coming back in but can't remember whatJohn Finley-4/11/2001
495Yes, Wallace, still here. Looks like I will have to be more patient with thisPaul Senior-4/10/2001
494Hi, Paul: You still in SWS? I'm thinking of re-entering at this below BV priWallace Rivers-4/10/2001
493Funny you should ask, Paul! I had a limit order in yesterday at 19 7/8 which, thWallace Rivers-11/30/2000
492Anyone here considering adding now that SWS is close to book value? Paul SeniorPaul Senior-11/29/2000
491You folded yet? I suspect this will get hit with the bad news on NITE.Wallace Rivers-10/4/2000
490This one is one week holding for me. If nothing happens, I'll fold and move Jon Khymn-9/12/2000
489Doesn't seem to be much pressure to cover just yet. I'm holding out on AugustWest-9/12/2000
488Let's see if the fire will catch on here...Jon Khymn-9/12/2000
487Hey, thanks for posting me. Haven't been paying attention here. 4.8MM shorAugustWest-9/11/2000
486August, I'm ready for some squeeze <g> Should I ask my broker to get Jon Khymn-9/11/2000
485This is a little easier to read <b>Getting the Shorts</b> By James AugustWest-7/31/2000
484Anyone margined should demand that your SWS not be loaned out. Read this articlG. Thomas Kaiser-7/31/2000
483SCREW THE SHORTS! Move all SWS stock into the cash portion of our accounts. ThG. Thomas Kaiser-7/27/2000
482Hi, Paul, bought SWS (fourth time purchase, yikes!) @ 26 11/16 yesterday. Just Wallace Rivers-7/27/2000
481sigh, yes, I missed it too. Again, and yet again and again. I hate it when I sePaul Senior-7/2/2000
480Dang, I KNEW I shoulda bought when SWS hit 30 <VBG>. Ahh well.... JFJohn Finley-7/2/2000
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