The problem is always about the inherent operating leverage of asset management business. When times are good, you will do better; when times are bad, however, you will do worse.
I think this is a time to pay attention to stocks in asset management businesses with strong brands and good track record. I like FPS, HHL and KAM. I do not own any of them. People are now very scared and I am ready to pick up the bargains when they want to get out of the door without consideration of price. Time and again, the best money was made when the panic hit.
Let more blood shed on the street!
HHL Price at posting:
$3.98 Sentiment: None Disclosure: Not Held
