I have to think that the sale is being driven by Pilgrim Baxter -- they want to grow more aggressively than perhaps UAM is willing to commit, ... It seems Pilgrim Baxter is a square peg at UAM.
Economic growth did stumble in the fourth quarter, but as expected it was the result of one-time factors, primarily disruptions and costs of other Gulf storms and their aftermath.
Prices are pretty rich. The exchanges may be vulnerable to short-term corrections, but over the longer term they should continue to grow because there's lots of money on the sidelines to invest.
The expected first-quarter rebound is already in progress and, given recent trends, real GDP growth is likely to rebound to more than 4 percent.
It's the market saying these guys aren't going to grow as fast - these guys are no longer a growth company.