There's no rate to imply here.

Our model doesn't fit this business — here's why:

  • Caution:
    The model doesn't fit this business
    An alternative asset manager and insurer: fee income is mixed with its own balance-sheet investments and with annuity flows, and performance fees arrive in lumps years apart. The cash-flow line says more about which funds exited this year than about the business.

TickerMath is an educational tool, not investment advice — it computes one model from SEC filings and can be wrong. How we compute this →