The company's worthless to outside passive minority investors until management starts treating us as owners. For now, management are cash flow pigs and take all the value for themselves. They have the Board in their pocket. If this business was run for the owners instead of our employees, it would be worth a lot more than $28-30/share. What do you think a $7B traditional asset management business and a $3+ billion hedge fund business are worth? Either one seperately is worth more than the value of the total company today, but only if management focuses on building shareholder value (rather than keeping it all for themselves, as they do now).
Disclosure: I own the stock based on its incredibly valuable assets, but have trouble recommending it to anyone that doesn't have a ton of patience.