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No. of Recommendations: 3
His buy decision appears to be based on the perception of the increased floor alone.

Remember that he's a fund manager.
His goals include asset retention, not just optimally high and safe returns.
Unlike us, the career risk of a falling price in the next year is a big deal to someone in his shoes.
In that context the higher floor today makes it a safer pick for a large allocation...for him, not his clients.

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