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In hindsight Vanguard's rise seems obvious and I expect the shift of assets to BX and CG and APO will seem obvious too. Meanwhile poor BEN which is also 'cheap' BEN languishes because it's stuck in a 'pay me for liquid beta' world.

curious - do you actually KNOW the performance w/these guys and gals R better? I own a few but prob spent the most time with OAK, but I can't make heads or tails about their actual performance.

fwiw, just a personal opinion, but i think BEN languishes cause performance does so, and performance does so because we are in a new area where cash flow is more important than earnings, where treating share based compensation as an expense is optional (most so than usual perhaps) in some industries , and where widespread annuity based models get tremendous respect regardless of the results they produce, and where traditional industries are under assault but that there is no clear consensus at least in the financials that replacements will do anything other than increase price transparency and therefore lower historical return on investments. Or...maybe they aren't flexible enough.*

Nygren bot Netflix.
That dude mentioned here shorted it.
Both are 'value' investors
My opinion favors the 2nd guy but not to the extent of shorting (plus, original Netflix content is like a badge for 'this sucks', at least so far)

Just make money baby!
:-)


(*off the cuff - not well researched impression opinion)
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