I have close to $100,000.00 tied up with AB and am out close $78,000.00. I have been long with this firm and it is hard to digest when a lot of the market is going up and this is going down where will it stop?
Ihave been a ciennt of Bernstein for over 25 years going through the ups and downs. However, since the merger with Alliance they have deteriorated..Why perhaps too big. Perhaps dependence on computers instead of common sense.
Even a prayer will not help the people at AB They are clueless and the moral is very very bad that even the few remaining smart people (very few left) are dying to get out. The place is run by very mediocre people who cherish mediocrity and "yes sir" mentality to performance. It is a very sad state. You should take your loss and move on TROW is exceptionally well managed. AB is horrid and WILL not change as AXA the majority owner is very close to the Peter krauss and will not make any changes.