WDR is now trading at 15x '09 consensus estimates which themselves are to high. WDR has to cut expenses a lot more to adjust for the massive decline in their revenues. Based on their competitors such as AMG 10.2x, CLMS 12.8x, and PZn 6.5x, a multiple around 12x seems appropriate for WDR which would imply a price target of $12. Be a buyer closer to $10 to achieve 20% upside.