Once the dust settles, these companies become much more growth oriented, ... They in fact become healthier, more profitable, they have larger market capitalizations, which enable them to go out, buy other businesses which provide high returns and enable them to maintain a high- return profile.

We would anticipate filing (for approval by the U.S. Food and Drug Administration) in the first half of 2007.

You have to be ... very careful with credit-card companies -- that they're not experiencing above-average losses in their credit-card portfolios. Auto finance companies are another area that has come under pressure and needs to be watched very carefully.

The knee jerk reaction is to say that when interest rates go up, these stocks go down, and that still pretty much holds.

Usually when the public gets admitted to something, it's the end of the bubble. The exponential growth in private equity and hedge funds in the last decade is mind-boggling. There's a bubble here that's going to bust. There's too much money. That's true in venture capital and it's true of hedge funds as well.

Construction spending remains strong due to continued economic growth.