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Stifel Financial Corp. Message Board

  • skier_steve skier_steve Sep 8, 2000 6:21 PM Flag

    Re: Yes, Steve..looks solid here..

    I'ved owned FTU for about 2 years and have
    followed that company and mgt. quite closely - in fact,
    closer than I ever wanted to.

    My lesson that one
    could benefit from:
    FTU's mgt. is 2nd tier in the
    financial services industry. They are not a top tier team
    and they don't execute on new business ventures -
    such as the fumble job on network banking which has
    not gone anywhere.

    You probably saw the news -
    FTU is selling their mortgage service business to
    Wells Fargo. Apparently they don't have confidence in
    their ability to execute. If a bank can't service
    mortgages (systems mgt. is key), then how the hell are they
    coing to implement network banking?

    I could go
    on about specifics at FTU - but you have the essence
    of my opinion. Take a short-term gain and run as far
    as you can from FTU. Fundamentals are very important
    but I submit they are misleading with regard to

    SF on the other hand, is a great little company and
    is undervalued on their basic business principals
    and future business outlook - not to mention the
    prospect of them being acquired.

    Just one man's

    Ciao, Skier_Steve

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