The firm is moving from a full service investment shop to one focused on investments alone. Outsourcing cost centers like technology to vendors. You may debate the merits, but the move towards a boutique business is inevitable.
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@n6 agree. Not just returns but flows as well. And those PMs continue to get paid well.
Also no need for personal comments- -you seemed to understand his comments pretty well!
@h8 doesn’t matter who the MC deems is “important.” If portfolio managers continue to run our products into the ground, we will continue to bleed money and, eventually, shut down.
Our flagship Growth Stock Fund has underperformed for 26 quarters in a row! The tech and operations staff aren’t responsible for that. Investments is.
P.S.: maybe learn to write in full sentences, your comments are almost incomprehensible.
@jq and your second language? None!!
@h8 Other than telling you that it is OBVIOUS that English is your SECOND language, you can eff off!
@h8 I mean, they can continue to pay investments exorbitant amounts for being losers, and then consultants and Morningstar can continue to downgrade our products and firm ratings so we can’t even get on platforms 🤷♀️.
@g7 it is system. Get used to it. Only investments will paid.
Have you notice how investment person is automatically KM6 level. Even 25 year old And they VPG after 3 year experience.
Tech can cry about importance. Paycheck tells you who importance
@e8 The breadwinners are not winning a lot of bread these days. Maybe a little less compensation will help motivate them. Why should they receive any kind of bonus with the way the company is performing. Do a bad and job still get a bonus is crazy, not at trp…..
Lol we can’t even fix our chronically underperforming products but we’re going to get rid of everything but the underperforming portfolio managers and analysts? What investor wants to give their money to a losing boutique firm? If I underperformed at my job for years I would have already been fired long ago, yet we continue to keep all the investments staff that make bad choices.
Fair enough - but do you think this MC is the one to correctly navigate this transition?