Mr. O'Brien: Advisory Research, Inc. (ARI) was established in 1974. Since our establishment, we've very much been a value-oriented investment manager. We operate with a bottom-up stock selection approach in the US small cap, mid-cap, large cap and the international equity space. The investment process of ARI is very much a team-oriented process. Our investment teams average in excess of 20 years' experience and the current senior members of the team have been working together since 1996. Our client base consists of approximately one-third foundations and endowments, one-third pension and retirement plans and the remaining third, high net worth investors.
TWST: How has your investment been impacted by the dire events of the last six
or seven months? It's been a difficult year in many ways. Would you give us an
idea of the impact this has had on your investment process?
Mr. O'Brien: Our investment process through thick and thin has remained
consistent. Certainly during the dog days of the markets from early October
through mid-March, our portfolios were adversely affected. But consistent with
our historical discipline as bottom-up stock pickers, what once again proved to
be true is our ability to preserve capital in falling markets. During the period
from early March through today, we have fully participated with the market as it
has rallied from the lows. So despite the extreme market volatility, the
investment process we have executed consistently over the years has held up
quite well in these most difficult markets.
Tickers included in this excerpt: GVA, JEF, POT, SCHN
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