Ken Worthington Quotations

Lehman is the winner so far this quarter. Lehman has a bigger fixed income business proportional to the size of the company.

No one won in the past market environment. A lot of people will be changing chairs.

I think (the European investments are) something they need to do, but we haven't seen the benefits from their investment yet. I've seen better progress at other firms.

Such fees help to get rid of non-profitable accounts or turn them into profitable ones.

As the Nasdaq goes higher, market-making business goes higher, implying that the fundamentals of Nasdaq companies are doing better.

They can just wait until the weaker players go out of business and those customers will go to one of the dominant players.

I'm not terribly excited about the company ... but it was a good quarter.

Generally I'm pleased from a shareholder perspective with what's going on. They've made a significant restructuring, which will result in significant cost savings, much of which will fall to the bottom line. This breaks them out from being a very inefficient, large brokerage house.