Brokerage IPOs, Trading Earnings

Tuesday, April 18, 2006 | 06:18 AM

File this one under anecdotal signs that things have gotten a bit frothy.

Under IPOs, consider:

• A few months ago, investment-banking boutique Thomas Weisel Partners Group went public through an IPO;

• French bank Société Générale SA has filed to take its investment-banking arm, Cowen & Co., public (also through an IPO);

Ryan Beck Holdings Inc. is the latest Wall Street firm to file for an IPO. A few years ago, Ryan Beck bought nearly defunct B/D Gruntal. 

If you recall, Gruntal (now Ryan Beck's) perma-bullish strategist Joe Battipaglia was a regular fixture on TV during the bubble years; For a few years after the crash, he was radioactive.  Battipaglia has returned to the boob tube -- not quite the regular fixture he once was, but still quite visible.

Next up is a quick glance at retail trading activity:

Schwab's profit jumped 68% in Q1. Revenue rose 21% to $1.28 billion, as revenue-generating trades were up to 275,200 per day; That compares with a daily average of 191,300 trades in the first quarter of 2005 -- a year over year increase in trading activity of 44%.

Ameritrade has already announced that their Q1 earnings would exceed the high end of its previously announced range;

E-Trade Financial Corp., thanks to "vigorous retail-stock interest," is expected to post solid results.

A significant group of active retail traders have returned to the fold -- a group that historically does not have the greatest timing. And the decision of Brokerage firm managements to cash out may simply be a case of making hay while the sun shines.

None of these data points are conclusive, and they do not imply the market is about to roll over and die tomorrow. 

But they sure as hell are worth taking notice of.

Tuesday, April 18, 2006 | 06:18 AM | Permalink | Comments (3) | TrackBack (1) add to | digg digg this! | technorati add to technorati | email email this post



TrackBack URL for this entry:

Listed below are links to weblogs that reference Brokerage IPOs, Trading Earnings:

» Opening Bell: 4.18.06 from
Ex-Disney CEO Eisner invests in online TV (AP) Apparently hosting a talk show isn't enough to hold Michael Eisner's interest these days. Now he's gonna take his poor track record at Disney, and try to prove himself in the world... [Read More]

Tracked on Apr 18, 2006 8:18:41 AM


I've been saying it for a while. The dumb money is force.

Posted by: jim | Apr 18, 2006 8:28:11 AM

The comments to this entry are closed.

Recent Posts

December 2008
Sun Mon Tue Wed Thu Fri Sat
  1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31      


Complete Archives List



Category Cloud

On the Nightstand

On the Nightstand

 Subscribe in a reader

Get The Big Picture!
Enter your email address:

Read our privacy policy

Essays & Effluvia

The Apprenticed Investor

Apprenticed Investor

About Me

About Me
email me

Favorite Posts

Tools and Feeds

AddThis Social Bookmark Button

Add to Google Reader or Homepage

Subscribe to The Big Picture

Powered by FeedBurner

Add to Technorati Favorites


My Wishlist

Worth Perusing

Worth Perusing

mp3s Spinning

MP3s Spinning

My Photo



Odds & Ends

Site by Moxie Design Studios™