I have a small position in AB which is my biggest loss >than 35%. I also have half of my pension plan under their management..they are doing ok but my vanguard account is just as good and cheaper. If not for my fiduciary resposibility I might pull out. I read the message board as to why AB is down...maybe it is the competition. Dealing with them ....they have a ton of employees that exhibit communication difficulties. Recently they did jetison their chief. Curious George would like to know if their are others with the same perception.
Just sold my 850+ because it is, as lylejr says, a "dead horse". I kept it for income and I can only imagine what the next few distributions are going to look like. Should have sold at $28 and eaten the swill. Now, swill sounds like a gourmet treat compared to what is being served. Get out now before it plummets further.
AB continues to lose institutional money because of their mediocre performance, changing investment process and turnover. Their fees are also way too high if you have your personal money there. This place is a marketing machine but they deliver below average results and charge high fees. I would not dump the stock at 20 given that Kraus's job is to sell them but...
As an owner of "too many shares" I attempt to stay up to date on every bit of news available on AB. Its finally starting to appear slightly oversold (don't sell near this bottom) BUT its still a long road back to better days.