Given Bob's investment style, which is long-term, focused on core holdings, it's really not best for the shareholders in the fund to have a lot of new money washing in and washing out, ... We're trying to get a more stable cash flow. |
His desire to focus on specific core funds has given me the opportunity to redistribute assets to managers whose talents warrant larger assignments. |
Never have so many people, made so much money with so little talent. |
Over the years, George has been one of the most successful equity portfolio managers in the financial services industry. |
The market rebounded very strongly at the end of the year, and it was a liquidity-driven rally, ... We can't count on the Fed to inject this level of liquidity that we saw last year. |
There is no single rule that can be applied in deciding whether or not to limit new purchases in a given fund, |
There's no free lunch, |
Things are running very well inside the investment arm of the company, and now is the right time for me to pass the baton to a new generation of leadership and return to a broader agenda of personal interests. |
Wall Street is at best ambivalent. The size of the accounts is nothing big. How many Wall Street firms do you know that are running after people with $5,000 accounts? |
We don't take a macro view, ... We'd look at every company to figure out if trade sanctions are helpful or hurtful. |
We need to treat lower income workers a little better in Social Security. |
We're really reducing the potential inflow, not cutting it off, |
We've been talking a lot about the desserts ? private accounts. But not the spinach. |