Joe remains his thoroughbred, but apart from that the stable is falling apart. I really don't think his antogonistic ways are helping either, getting nothing but a few extra lumps for his fighters as they crumble to the canvas again.
His fighters have taken on 3 ring champions and a solid world level fighter. The 3 that lost were, to varying degrees, the underdogs in each case too. I don't think he'll be particularly disheartened, especially in the case of Rees who was fighting well above where he should be and had already pulled out one wonder perormance in getting the belt in the first place.