I think it's a good company with a very strong management and it's priced very attractively relative to the market and its peers like T. Rowe Price and Franklin Resources.

While I would like to see the company start generating profits sooner, I think (flat-rate pricing) is the way the industry is going. CompuServe will need to make its revenue through advertising or transaction fees.

That's a good price for a well-known house like Pilgrim. You could really get that company going again.

It's the market saying these guys aren't going to grow as fast - these guys are no longer a growth company.

It's really an excellent industry, and once you cover fixed costs, it's very profitable.

It could be a prelude to a public offering. It (an IPO) could be part of making the transition to the next generation.