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John Rogers Comments on Lazard Ltd.

November 05, 2013 | About:

With Lazard (LAZ), we are able to look beyond the negatively-impacted emerging markets stocks held by the firm's investment management business. We like the enduring economics of money management and treat this meaningful profit contributor as icing on the cake of the company's diversified investment banking operation.

From John Rogers' Ariel Fund and Ariel Appreciate Fund portfolio manager letter third quarter 2013.

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