I don't think it has anything personally to do with Bob.

The fee, in effect, reimburses the funds for the costs short-term traders create,

It's amazing how fast the invisible hand of competitive marketplaces is correcting these problems. Two years ago you saw almost no new research come out after the annual 10-K filing. Now when a company comes out with its 10-K, you see half a dozen analysts immediately coming out with a report analyzing all the details.

It's one of the few funds that is in such a favorable tax situation. The fund has a large realized loss and an unrealized loss.

The most effective way to prevent the exploitation of our long-term shareholders is to charge an appropriate fee to short-term traders.

That type of monthly decline was unprecedented, ... We were not comfortable with management's explanation as to why it happened.

That type of monthly decline was unprecedented. We were not comfortable with management's explanation as to why it happened.

Disney is a great company with a tremendous portfolio of media properties. I'm not interested in commenting on management issues.

We were puzzled and frustrated by that, ... We were displeased with (management's) lack of urgency.

We've been talking to energy companies who are unwilling to make investments that require current oil prices to support them. They don't think prices will remain at this level.