Word: managerized
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Chowdhury Baset had worked at the market 11 years. He began as a cashier and worked his way up to the position of night manager.
"The store was a hub for our community," said Freeman "Smoky" Markham, Barsamian's bakery manager. "The community is going to hurt without it."
Oddly, the two finest works that Deskey commissioned and Hardy has reinstalled haven't been on display for years. Stuart Davis' witty Men Without Women was exiled a few blocks north to the Museum of Modern Art in 1975, when the Music Hall was in such a state of desuetude...
Part 1 of the whammy: heavy redemptions often force a fund manager to sell stocks and book gains that would otherwise be avoided, just so they can pay departing investors. Part 2: fewer remain to share the tax liability.
Another flag is the aforementioned heavy redemptions. Take Oakmark Fund (which I own). After a brilliant run early this decade it has lagged badly the past two years. This year shareholders have withdrawn $2 billion more than they've put in, a drop equal to a third of the fund...