'Value' almost by definition has a ceiling on it.

There's a lot of concern about the economy growing slowly, and investors are really looking for the place where they can get stable, predictable earnings growth. And the kinds of stocks that tend to give you that are large cap consumer names and the big drug companies.

Small cap value funds tend to hold up better when the market is down.

You can tell that the small-cap sector is still cheap relative to large caps. Some of it is because they haven't done as well this year, but also when you look at how they're priced relative to the earnings growth people expect them to produce, they're still very attractive.

At first we were thinking 'what are we going to do with all these coats?' but now they are almost all gone.

Now we're just looking for the ceiling.