While fails are a normal part of market activity, the goal of this mechanism is to establish clear guidelines for market participants that will eliminate uncertainty and allow participants to remain engaged in the market even when rates go negative.

If they want to continue to grow at an above-average rate, absolutely, they've got to make these investments. The problem is that it's squeezing short-term earnings, and investors don't like that.

We're only in the third or fourth inning, there's still a long way to go.

Turning the battleship around is a slow process, but management is stating to get it.

They've gone from playing defense to seeing some of these initiatives pay off.

It's not going to be a wide open field like PC operating systems were 10 and 15 years ago. It's a different playing field, and so they do have more competition and that creates increased risk, absolutely.