I tried to contact one of the four who signed the letter we just received. That letter was written to give us a "warm and fuzzy feel".
Suddenly, a minus 1.34 percent day on 9/8.
I called and got a message for one of the fund managers to please call me first thing today 9/9. No call came.
My hunch is that they own the FRE or GMA preferred. OUCH.

Here's what really hurts.
I called the last day of 2007 and asked about the exposure to subprime. The answer was "virtually none"
I called in mid Feb after a disappointing first six weeks of 08 and asked the identical question. This time the answer was "less than one percent". Well, that is a big difference in six weeks time. So, I believe they slowly got into the subprime mess.
What really hurts is their reluctance to speak about it.
Instead they send out the AUG 08 letter that is misleading.

Do we have any class action here?

Jimbo