It's not likely a firm would double its revenue in a sequential comparison. One should assume that some of that's proprietary trading.
More Quotes from David Trone:
It's in last place with no real assets to improve their position. Discover desperately needs to have an improved value proposition for the cardholders. That's where it all begins.David Trone
The partial quarter effect of the two acquisitions should result in a 17 sequential revenue lift, while core expenses (excluding any one-time restructuring charges) should rise about 23, as the company only begins to realize both expense and revenue synergies.
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Full-service firms are awash in capital and looking at means of effective deployment. Over the last few weeks, media reports have been fuller than normal with buzz of these firms exploring large deals.
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The transaction makes a lot of sense strategically at a time when U.S. regulators are frowning upon financial incentives to brokers for pushing in-house funds.
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This is the first quarter in a long time where you will see year-over-year comparisons that are negative. And we'll probably see results for most of the quarters in 2005 being down on a year-over-year basis.
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Its track record is outstanding, they've earned tens of billions of dollars over the last several years and they've never come close to having a negative trading line. I'd say that's reasonable risk-reward.
David Trone
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Based on Topics: Trading QuotesBased on Keywords: proprietary, sequential
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