It made a purchase of a company and it turned out that the company it bought had reported hundreds of millions of dollars worth of false revenues. It was one of the biggest accounting scandals in history. The case was settled in the last six months. But it is coming back now. The stock recently has been on a good move up.
Management is refocused -and is very astute.
Cendant does everything from real estate brokerage to car rentals to certain types of insurance to relocation services. So, unless a lot of new money comes into the fund, we would hold steady right here. I have a PE of about 17 on it for this year. The fundamentals are getting better because management isn't as distracted as it was. I don't know when that will happen, but the catalyst is already in effect-that is, the company is focused again.