Thomas Weisel Partners Group, Inc. (TWPG)
The Company's business is organized into four service offerings: investment banking, brokerage, research and asset management.
Recs
I was waiting for this to come back down. See previous post for why I like. Nothings changed.
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From my short ideas/valuation screen
Recs
Believe $10 is the right price to initiate a long position in boutique investment bank, Thomas Weisel Partners. Stock price has been crushed off recent disapointing M&A and IPO results. They have a large exposure to the technology group, so they face considerable headwinds near term ...but current price seems to have already discounted these near-term challenges. Stock trades at only a 5% premium to companies' net cash position - placing almost no value on their investment banking, IPO and brokerage business - that seems extreme even to this resident financial bear. Along with FBCM (which just laid off 10% of its workforce), TWPG likely represents one of the better risk-adjusted opportunities in the financial sector for those with a 3-5 time horizon.
Recs
Personal pick of best value stock in Investment Brokerage industry P/Bk 1.77, Debt to equity .12, 2008 p/e 13.63 steady to growing earnings low debt with high cash reserves places this company in a strong position to acquire a more highly leveraged player should someone fail to perform in this industry, or continue executing in a conservative but increasingly profitable manner.
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Tom is the man. Look how many deals they are doing?

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