A year ago, it would have been a good time to bail out but now they seem to be making some improvements, ... In cases like this where there is potential for a turnaround it's a tougher call.
More Quotes from Russ Kinnel:
This is a consolidation period in the industry, both in terms of staffing and the number of funds. We've seen a lot of fund mergers recently and some layoffs.Russ Kinnel
There's bound to be a strong interest in protecting your principal and your reputation. However, I think it can be a mixed bag. On the one hand, you have some nice stability. . . . But at the same time, there can be issues. You have to ask, has this person really earned their spot Obviously some will show experience beyond their years, for having grown up in it, and having fathers that can show them the ropes. That can be tremendously valuable.
Russ Kinnel
All of these funds you could own for 10 or 20 years. With all of them, I have a fair amount of confidence that things will go well for a long time.
Russ Kinnel
They may have been in a pretty good position to weather the storm.
Russ Kinnel
Both have provided tremendous performance. It's good to see both of them doing so well. It's an indication the fund industry is doing well for shareholders.
Russ Kinnel
If you have a basketball team with seven great players, and one leaves ... the overall team is worse.
Russ Kinnel
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