Managers need to be aware and provide a workplace where people can communicate negative feelings without fear of reprisal.

People may have feelings about an issue in some amorphous way, but then something happens that crystallizes these feelings and that helps people distinguish between position A and position B. Wedge issues sharpen those feelings.

You really need to get to know your people to the extent you can tell what's going on with them.

Fidelity has 300 funds with different managers. As a company, they've lightened up on technology as technology has gone up, but there are a few exceptions.

They have such a network of people across the state and it's normally been a handful of federal managers.

I think people are still looking to get into commodities and it is surprising as many fund managers believe we are close to the point where the economy is going to be harmed.