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Author: NorthCarolinaKen Big red star, 1000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 69  
Subject: Re: LaBranche and Opportunity? Date: 10/6/2003 1:52 PM
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I am convinced that the drop in revenue is due to customers afraid of getting involved. Maybe there is something sinister going on here. Clearly using a big floor trader for large transactions makes sense. They can handle the large orders and get the best prices. They also could be providing something more which is the concern and why the stock got clobbered.

A broker had some good advice on this. He noted that there isn't anything there in terms of book value. The company IS the traders on the floor. If they have been crossing over the line, the company will be worthless as that is exposed. If there was something tangible there, it might be worth the risk but it is a straight down deal if there is any skullduggery, an Enron.

My plan is to watch and wait. The prosecuters will absolutely drive this investigation to completion so things will either get far worse or better. There could be an opportunity down the road.

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