Anybody who owned General Motors for the dividend had to recognize there was a high probability the dividend would be cut. The important thing at General Motors is not the dividend. The important thing is they make money again.

I don't think any of us are averse to the development. St. Joe has had trouble in dealing with the law.

When you put your name on a fund, there's a certain element of pride, of not wanting to be embarrassed or neglectful. . . . It forces you to want to work just a little harder to be right.

We believe the blend of investments in companies in various sectors, as well as the representation in multiple cap sizes, provides distinctive portfolio diversification and balance. This strategy helps us to remain flexible and to truly be on the lookout for opportunities that are worthy of investment, regardless of the size or sector of the company.

We would like them to be more constrained, more enlightened. There's nothing to prevent them from doing the right thing.

It's a new day dawning for the railroads.

As they are changing from old contracts to new ones they are raising rates, which is a good sign that they are doing very well. They have established themselves as a viable investment prospect.

These are good growth stocks and we think the earnings are going to continue to keep growing.