WB - we have 3 candidates, all internal for CEO. 4 candidates for investment managers inside/outside. The 4 did no better than match the SnP last year.
CM - practically every investor I respect got creamed last year
WB - there 10yr has been very impressive. List has not changed. If I drop dead they need a new CEO tom, but investment managers can take time.
CM - we wouldn't want a manager who could went to all cash. We would exclude them. Not dumb enough for us.
