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Joining me right now to explain.
Why Knight Capital Group ratings work hot.
Is the man who made the call -- -- co-founder president and Egan Jones rating.
Shot great to have you back on the show -- -- see you stepped in very quickly to make this call today when all this was going and we were watching the market gyrations.
Everything's sort of calm down that we heard that you were cutting the reading was it purely based on today's incidents that downgrades.
It is and certainly did not help but there are some challenges that night trading -- -- -- even before our today's interest that.
Activity -- even before our that they brought problem its second quarter revenues were down.
From 326 million last year that -- -- 89 million visitors -- -- 11% drop.
We have a net income declined from seventeen point five down to three point -- -- a whole that's rising from.
An important one and it nine point two -- shareholders' equity remained -- at one point five billion celebrity has increased.
From here or are you worried that there is more downside risk are you taking a wait and see attitude.
Well -- actually we'd like this from the company do something called proactively -- after they've seen this year prize.
Of the night declines -- ten dollars and fifty cents below seven dollars is by 34%.
Decline in one day.
And he really liked it there's the issue that comes up with a lot of institutional investors it's -- counterparty risks.
It's not a good.
How but I know that if I trade with I don't glory about waking up did the next day and seeing some problems.
An important guide if there to be proactive dude really -- markets -- another drop like today.
It's it's a disaster.
Is to -- like you think today's glitch was it.
It was a symptom of a larger problem.
There's no question you have problems like this shouldn't happen and -- -- well problem should not have happened.
And -- eat it is it's not important when investors are fairly nervous.
Our -- -- get thank you so much for joining us we appreciate your time.
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