Mr. Geller: The firm has been around for 25 years now. We manage about $1.4 billion with a value oriented, fundamental bottom-up philosophy. We tend to do very in-depth research on the companies that we invest in. The basic tenets of our philosophy are to buy companies with above average quality characteristics, and what I mean by that would be companies with above average profitability, strong balance sheets and very strong free cash flow generation, and we buy them when they are trading at a discount to the overall market or to their peer group. We run six different products right now. We have an all-cap, mid-cap, small cap and micro-cap, as well as two long/short products. One is a traditional long/short hedge fund and the other is a 130/30, which we started running back in October 2007. Really the way we view ourselves is as a research powerhouse in the value space with a smaller cap bias to what we do. And we have a product line that capitalizes on that research that is being generated by the firm's 11 sector specialists. We have 11 individuals on the investment team, all of whom are very experienced. Many of us have worked together for quite a while at this point and each person is responsible for one or two specific sectors of the economy. They do all the stock picking, they are responsible for all the buy and sell and short decision-making within their sectors across the entire cap spectrum. We are very research-focused, bottom-up stock pickers, and the product line we have is an offshoot of this substantial body of research that is being generated on a daily basis. All the products are run as a team. Each product has a team leader, but it is not a portfolio manager in the traditional sense, in that that individual is not picking all the stocks for the portfolio — it is more of an administrative role. Going back to what I said about the sector specialists, it is the individuals who really populate the various products with all the decision-making within their particular sectors across the product line, and the team leader for each product oversees this process.
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