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Ron Baron Comments on Interactive Brokers Group

- By Holly LaFon

Shares of global electronic broker Interactive Brokers Group, Inc. (IBKR) declined due to slowing customer account growth and a lower interest rate outlook. Founder Thomas Peterffy's announcement that he will step down as CEO in the third quarter of 2019 and gradually sell down his ownership stake also impacted performance. We sold our shares.

From Ron Baron (Trades, Portfolio)'s Baron Partners Fund first-quarter 2019 shareholder letter.
This article first appeared on GuruFocus.