Highbury CEO Comments on Recent Share Weakness

Although I continue to be confident in Highbury Financial (HBRF)
over the long term,<!--more--> I have clearly been wrong thus far in the short term
on my thesis for the company as the credit crisis has been more severe
than I anticipated.  As a result,  the company has not been able to make their
next step in their strategy to acquire additional asset management
firms. The stock has been cut roughly in half from my initial purchases
of the shares and has cost the overall portfolio several hundred basis
points, which has resulted in only slightly better than peer and Index performance over the past six months.

I
talked with Richard Foote, CEO of Highbury Financial, to get some
color from him on what he thinks is going on. He points to the
following reasons (in no particular order) for the decline in share price: