View NITE Television Commercial: "Who puts hundreds of millions of their own money on the line, all to help you get the best price? Knight, the world's leading market maker. Where the trade gets done." (RealPlayer required).
View NITE Television Commercial: "When it comes to executing trades, who is the preferred choice of the top online brokers? Knight, the world's leading market maker. Where the trade gets done." (RealPlayer required).
View NITE Television Commercial: "Where do you find leading technology, experienced traders, all working to help you get the best price? Knight, the world's leading market maker. Where the trade gets done." (RealPlayer required).
View NITE Television Commercial: "Who's at the center of online investing, the engine driving the revolution, the power behind the boom? Knight, the world's leading market maker. Where the trade gets done." (RealPlayer required).
View CNBC Weekend Squawk Box 10/16/99, Mark Haines interviews Amar Mehta, E-Financial Services Analyst, CIBC World Markets. "...Well they're (Knight) kind of the casino owner, aren't they... They're the house..." (RealPlayer required). Read the transcript.
View CNBC "Business Center" News Story on Knight/Trimark 10/29/99. Jim Paymar, CNBC Business Reporter and on-air personality of CNBC's "Business Center" was in Jersey City to interview Kenny Pasternak and John Hewitt for a profile story on Knight/Trimark Group. (RealPlayer required). Read the transcript.
View photographs of Kenneth D. Pasternak, President, Chief Executive Officer and Director of Knight/Trimark Group, Inc.
View CNBC 10/13/99, Knight/Trimark's President and CEO Kenny Pasternak discusses 3rd quarter's earnings. This is a clip of the last 12 seconds of the interview. Interviewer: Stock price going to go back to 50 sometime soon? Pasternak: We think that the future's ahead of us, and ah.... Interviewer (interrupting): Well it's ahead of all of us. Pasternak: Yea. (10/15/99 NITE closed at 22, 11/16/99 NITE reached 50 5/8) (RealPlayer required).
Sing the "Ballad of the Knight Trimark" (Fighting traders from the pits, Fearless men who type and sit...) right from the web page, or download the karaoke movie to your computer: ballad.mov.sit [Mac, 8k], ballad.mov.zip [Win, 9k]. (QuickTime 2.5 or better is required to view the lyrics.)
Read the section on Knight Securities from the November 22, 1999 New York State Attorney General Report "From Wall Street To Web Street: A Report On The Problems And Promise Of The Online Brokerage Industry."
Sing "NITE Train" (Rollin' Rollin' Rollin' Keep those traders rollin'...) right from the web page, or download the karaoke movie to your computer: nitetrain.mov.sit [Mac, 7k], nitetrain.mov.zip [Win, 7k]. (QuickTime 2.5 or better is required to view the lyrics.)
View NITE Television Commercial: "Online investors say execution is the most important criterion for choosing a broker. So, who's executing your trades? Knight, the world's leading market maker. Where the trade gets done." (RealPlayer required). See images of Kenny Pasternak from this commercial.
View the entire CNBC 10/13/99 interview of Kenny Pasternak discussing 1999 Q3 earnings. (RealPlayer required).
View the entire CNBC 1/19/00 interview of Kenny Pasternak discussing 1999 Q4 earnings. (RealPlayer required).
Read the transcript of the RadioWallStreet.com 2/18/00 interview of Sr. VP of Business Development, Lewis Okser, from the Online Trading Expo in New York City (courtesy of StuyvesantGrad from the Raging Bull NITE board).
View CNBC's Maria Bartiromo grilling Knight/Trimark CEO Ken Pasternak. After Bartiromo's taped interview with Pasternak, she went to a live session with Bear Stearns analyst Amy Butte (4/14/00), who dumped on Knight/Trimark some more. Pasternak wasn't given a chance to respond.(RealPlayer required).
View more photographs of Kenneth D. Pasternak, President, Chief Executive Officer and Director of Knight/Trimark Group, Inc. This includes images from the September 1996 issue of Traders Magazine and the 1999 Annual Report.
Read the written statement of Kenneth D. Pasternak, President and CEO, Knight/Trimark Group, Inc. before the Subcommittee on Securities of the U.S. Senate Committee on Banking, Housing and Urban Affairs - April 26, 2000.
Experience the Flying Amy Butte head July 4th Extravaganza. Interact with Amy Butte's face.
Play NITELibs, the Knight Trading Group version of the old "Mad Libs" party game!
Play ButteLibs, the Amy Butte version of the old "Mad Libs" party game!
View the CNBC 9/18/00 interview of Bear Stearns analyst Amy Butte doing her best to bash NITE. (RealPlayer required).
Read analysts' comments on Knight Trading Group's Q3 2000 earnings warning, including a transcript from NITE_Super_Long's visit to Knight headquarters.
Thank analyst Amy Butte of Bear Stearns.
Thank Kenny for delivering "superior returns to shareholders".
Rearrange Kenny Pasternak's face, on a page titled "Shareholders' Revenge".
Play Knight Trading Group Hangman.
Cover Pasternak with Buttes.
View a random page of this site.
Read my 9/17/2000 e-mail to CNBC Squawk Box, and read my 7/28/00 e-mail to SmartMoney.com.
Amy Butte is on the cover of the Rolling Stone.
Redesigned the site, modifying the old front page to this "What's New" page and added a navigation menu. Created the following category pages: NITE Television Commercials, Videos, Texts, Kenny Pasternak, Chief Executive Officer and President of Knight Trading Group, Amy Butte, Bear Stearns Analyst, Karaoke and Miscellaneous.
Sing "That's Knight Trading" (When a stock hits your eye like a big pizza pie...) right from the web page, or download the karaoke movie to your computer: ThatsKnightTrading.mov.sit [Mac, 16k], ThatsKnightTrading.mov.zip [Win, 18k]. (QuickTime 2.5 or better is required to view the lyrics.)
Countdown to NITE earnings. Also the following subdomains were created to provide shortcuts to this page: http://Countdown.NITETradingGroup.com and http://Earnings.NITETradingGroup.com.
http://Unattractive.NITETradingGroup.com and http://Kenny.NITETradingGroup.com were created as subdomain shortcuts to the Amy Butte and Kenny Pasternak pages respectively. (In addition to "unattractive", which of course refers to Butte's initial coverage rating of NITE, there is a secret subdomain that also points to the Amy Butte page. Can you determine what it is?) http://Pasternak.NITETradingGroup.com is another shortcut to the Kenny Pasternak page.
View the slides (Part A) from the March 5, 2001 Knight Analyst & Institutional Investor Meeting (32 slides). View Part B (67 slides).
View a few more photographs of Kenny Pasternak (added some new ones at the bottom of the page).
View who has visited this site over the last 4 weeks (refreshed daily).
Read analysts' comments on the effect of decimalization.
View the new statistics page (visitors to this site over the last 4 weeks - refreshed daily). Added pie charts and several additional reports.
This site was featured in the May 16, 2001 WSJ.com "Heard on the Net" column (although the quote attributed to me was inaccurate).
View the slides from the Knight Trading Group Annual Meeting - May 16, 2001 (27 slides).
Read Kenny Pasternak's May 24, 2001 testimony on decimalization to the U.S. Senate Subcommittee on Securities and Investment.
Bye bye to John G. Hewitt And David Shpilberg as NITE sinks to a two year low.
2001 2Q Conference Call notes and analysis.
Watch Peter Hajas dance - Knight Trading Group's new President and Chief Operating Officer.
Converted my EuropeanRoundtable.com site to "Get Osama bin Laden". Also added American flags to most pages of my NITE site (The "Get Osama bin Laden" site may also be reached by clicking on one of these flags.)
Bye bye to Kenny Pasternak and Irv Kessler as they both announce their retirement. Kenny Plans to run for public office in New Jersey.
Welcome Tony Sanfilippo as Knight's new President and Chief Operating Officer, as well as Interim Chief Executive Officer. Also the musical question of "Who's Next?" was just answered by the announcement of Peter Hajas' departure.
Thanks to Scotty Littman and Judy Pirro for the comprehensive tour of Knight headquarters after the 5/22/02 Annual Meeting.
Tom Joyce hired as CEO and President, ending a five-month search for a permanent replacement. (Let's hope that Joyce has an easier time turning around Knight than he had obtaining permission to build that in ground pool.)
Charlotte Chamberlain, a Jefferies & Company analyst, says NITE should be avoided like the plague. (Subdomain shortcuts are http://pox.nitetradingroup.com or http://plague.nitetradinggroup.com.)
Montage of various Knight employees enjoying themselves.
Asinine utterance proves what should really be avoided like the plague are analysts!
Photos of Tom Joyce added to his page.
Fixed the "Suggest this site to a friend" script.
For years Knight has been on record saying that "The spread is a myth."
But in the 2002 Annual Report (March 31, 2003) CEO Thomas Joyce seems to say just the opposite:
Goodbye Tony. I used to ask "who's next?", but now there's no one left.
Charlotte Chamberlain, of Jefferies & Company is the poster child for imbecilic Wall Street analysts. On July 3, 2002 she said to avoid NITE "like the plague", "anyone buying NITE now defines the term irrational exuberance" and that it has "very, very negative prospects." Now exactly one year later NITE has gained 102%. Update: As of October 14, 2003 NITE is now up 239%!
March 7, 2005: NASD Charges Knight Securities' Kenneth Pasternak With Supervisory Violations in Fraudulent Sales.
April 2005: Well it looks like the same old, same old. The executive management continue to rape the company with exorbitant compensation packages while Knight's profitability and stock price continue to decline.
May 2005: The company name was changed from Knight Trading Group to Knight Capital Group. You would expect that Knight would have purchased KnightCapitalGroup.com since companies always buy their dot com names. But to my great surprise Knight did not buy the domain name, even though it's been quite a while since the proposed name change was announced. So much for being a high tech, whiz-bang company.
View Tom Joyce discussing the stock price at the 6/8/05 Sandler O'Neill Conference.
Watch CEO Tom Joyce clap along to "In the Still of the Night".
Modified a few of the DHTML scripts so that various graphic effects now work with the FireFox web browser (in addition to Internet Explorer).
"An emphatic two thumbs up, way up!" - 5/4/06 video clip of Jim Cramer on Mad Money.
Removed broken links, eliminated the activex security warning for MSIE users, added a link to United States District Court - "SEC v. Kenneth D. Pasternak" and performed other miscellaneous tweaks and fixes.
"It is great when a good guy makes it to the top and cleans up the joint." - 6/23/06 audio clip of Jim Cramer on Mad Money interviewing Tom Joyce.
December 15, 2006 10:38 am ET - Rumor that Merrill Lynch & Co. Inc.will make a $30 plus bid for KNIGHT CAPITAL GROUP.
Anatomy of a Trading Floor Featuring: Knight Capital Group
April 11, 2007 - The NASD issued a $100,000 fine against former CEO of Knight Securities Kenneth Pasternak June 12, 2008 - U.S. District Court clears Pasternak of SEC charges. Pasternak responds, "I feel vindicated."
December 13, 2008 - Various changes were made to this web site in light of Pasternak's victory over the SEC.
What's New | Random Page | Site Statistics | Recommend Site Current number of visitors: 1
"Knight makes money in essentially three ways: capturing the effective spread; charging fees and
commissions for our trade execution services; and managing our inventory of securities as we make markets for our clients.
Decimalization and the one-cent Minimum Price Variant have collapsed spreads for Knight and for all of our competitors."
So the truth finally comes out. Was my investment decision to buy, and hold, NITE based on management misinformation?
for supervisory violations in connection with fraudulent sales to institutional customers in 1999 and 2000. In addition, Pasternak was suspended in all supervisory capacities for two years.
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