I'll say something bad: 1: The rich distribute their assets when they think the asset is fully, or nearly fully valued. 2: Take a look at their stock borrow page. They show some 9700 shares on the DTCC sheets of Sedona Corp, featured in the Bloomberg report on naked shorting, yet they continually have the shares available for borrow. We've called, but you have to open an account and deposit money before they'll tell you how many they'll lend. A CEO of one manipulated company opened an account, and shorted his own stock to prove the point. This does not smackof good internal controls. I've noticed a lot of other pennies up there. Now, they'll have an excuse, or a third party agreement, but do you think it's good business to "lend" twenty cent stocks that has SEC decisions in its favor? 3. On a Macro perspective, there is way too much swirling around the industry, including Organized Crime involvementhttp://www.internationalshareholdersgroup.com/pdf/Eagletech_v_Citigroup_Complaint_Filestamped.pdf ,, to make anything out of this but a trade. You should be able to pick up the survivors dirt cheap next year. There is a lot more to a BD than you liking the platform. They risk their own capital, take market risk, and compliance risks everyday. Peterfly is not selling because he just made the goodguy list and wants to be your friend. In other words, have a nice time at the dance, but she's not the marryin' kind. BTW, One time I asked Bryne, "why him" in the naked shorting thing. Why did they pick on you. He replied he thought it was the Dutch Auction thing, and he got a threatening phone call, anonomy, anonom,..... he didn't know who it was, where the caller indicated the stock was doomed from the get go. Has that changed? I really don't know. Does a Dutch Auction usurp all the profits from the Brethern? Does anybody have a link to the prospectus??? Thanks.
I glanced through the prospectus and I saw that there was going to be 400 million shares outstanding after the ipo, giving the company a valuation of $10 billion at the offering price of $25. And all of the proceeds of the ipo will go directly to Thomas Peterffy and other officers, and nothing will actually go to the company. Did I read that right?? Only offering 5% of the total shares in an ipo seems to be a rather low percentage. Somebody correct me if I'm wrong.
I can see it now.(assuming u trade thru IB) After you liquidate the position and request a wire from IB to collect your profits, some obsure security measure was tripped and you don't see the cash until late 2009.
Maybe being a public company will push them to improve their Customer Service / Tech Support (seemingly one of the largest ET discussion topics) After all, look @ Dell ..... :eek: :eek:
Anybody got any ideas how to bid it for the maximum chance of getting some shares realistically priced?
hmmm.....so Timber Hill is finally going public, eh? I suppose it's about time. The funny thing is that IB would probably be worth more if they decoupled themselves from TH. After all, the money is in brokerage these days, not market making.