If you're comfortable with high risk, fine, ... But if you're uncomfortable with risk, you can't do without value.

By value standards we had a good year,

The average stock was up 9 percent last year, whether it was growth or value, ... The market is top-heavy to a select list of names.

There are a lot of value investors who have done tremendous style drift, ... The funds have drifted so dramatically that it's hard to compare us to them.

We took a big risk that investors would see the value of our approach and participate.

There's very little value in getting angry at anybody over the telephone, it is too easy to hang up.