We retain our underweight stance, based on our negative views on the outlook for land-based bookmakers and their retail channel.

We will leave numbers unchanged and retain our neutral stance based on valuation.

These families have been able to retain ownership of their land through the Depression, droughts, freezes and the urbanization of Florida. That is a great tribute to the many generations of these families.

I would say it's a dueling trend that retail mutual fund companies are starting hedge fund like vehicles to retain that talent. That is a weapon in a fund company's arsenal.

I think the market is very underweight Telstra stock.

That's what happens when you're lucky enough to land a John Ramistella on your team. He will take it upon himself to get the job done.