Asset manager Eaton Vance (NYSE:EV) is well known to investors thanks to its status as one of the largest "manufacturers" of closed end funds. This name recognition has probably played a role in the run-up of the stock this year (along with the general run-up in the market of course). Unfortunately, EV's "manufacturing" profits may soon take a hit as the firm underperforms other asset managers in attracting new assets in the equity categories. Based on this, and the firm's ambitious valuation at current levels, I believe the stock is too risky for investors at current levels. On the other hand, Eaton Vance has brought an important new category of mainstream investing to the market and this should...
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