General Investing >> Money Manager Interviews >> January 22, 2015

Determining Relative Value with Returns-Based Metrics

Edward Rosenfeld is a Director, and Portfolio Manager and Analyst on the European, international and global small-cap equity teams at Lazard Asset Management LLC. He began working in the investment industry in 1996. Prior to joining Lazard in 2001, Mr. Rosenfeld was an analyst with J.P. Morgan. He has an MBA from the University of Chicago and a B.A. from Columbia College.     Profile
TWST: Please start by explaining the overall investment philosophy and strategy of the international small-cap equity portfolio.

Mr. Rosenfeld: We define our strategy in terms of what