Poor performance hasn't tarnished the funds' image, ... It's still the right acquisition for the right buyer.
We've seen Warren Buffett take positions and ultimately acquire companies.
It's the market saying these guys aren't going to grow as fast - these guys are no longer a growth company.
That's a good price for a well-known house like Pilgrim, ... You could really get that company going again.
I would not want to see them sell at this price, ... I would want to see them get the company turned around then look at if you want to go private.
I'm surprised to see them doing it. I don't know if I'm thrilled with it. While it would make them more price competitive and generate greater subscriber growth, I think they tried to be an AOL before and failed.
The ones that are successful with it think it's good, ... These people are shooting at very frequent golfers; if there is a new club or ball out there they will try it.
That may not be the case in the second quarter because of the shift back to 'old economy' stocks ... You live by the sword, you die by the sword.
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