Merrill downgrade will continue to pressure VPI for next week or two. The stuff we post here means squat but they move the price. I doubt that VPI was profitable in December when all the Argentina turmoil occurred. With 25% of the assets in Argentina, and a higher portion of the "profits" I think VPI can be had for less. JMHO. All these downgrades now indicate that the analysts didn't factor in the huge Argentina exposure clearly stated in the footnotes. A man hears what he wants to hear and disregards the rest.