Investment Strategies

We believe Price to Intrinsic Value is the most effective fundamental calculation available to determine the true valuation of a stock. We believe investing in stocks with attractive valuation, improving fundamentals and market acceptance of those characteristics increases the probability of outperformance. Combining them in a comprehensive, disciplined process with risk controls should result in a portfolio that consistently outperforms the benchmarks over full market cycles with less volatility.

While valuation is central to our philosophy, common sense dictates that it must be corroborated by company fundamentals and market acceptance. Cheap stocks can become value traps if a company’s fundamental prospects do not support that value or if the market chooses to ignore the valuation and fundamentals because of some other concern. We believe good valuation factors with positive fundamental prospects and market recognition provides the right combination of factors to successfully buy stocks.

We couple this with sell disciplines based on valuation and fundamentals for all of our strategies to limit the risks inherent in stock selection. We also maintain diversification requirements in our International Intrinsic Value strategy to ensure it is our stock selection that is providing the most value to clients. The goal is to establish a quality-oriented portfolio that will have predictable characteristics and provide excellent returns for the risk taken within the portfolio.

We believe Price to Intrinsic Value is the most effective fundamental calculation available to determine the true valuation of a stock. We believe investing in stocks with attractive valuation, improving fundamentals and market acceptance of those characteristics increases the probability of outperformance. Combining them in a comprehensive, disciplined process with risk controls should result in a portfolio that consistently outperforms the benchmarks over full market cycles with less volatility.

While valuation is central to our philosophy, common sense dictates that it must be corroborated by company fundamentals and market acceptance. Cheap stocks can become value traps if a company’s fundamental prospects do not support that value or if the market chooses to ignore the valuation and fundamentals because of some other concern. We believe good valuation factors with positive fundamental prospects and market recognition provides the right combination of factors to successfully buy stocks.

We couple this with sell disciplines based on valuation and fundamentals for all of our strategies to limit the risks inherent in stock selection. We also maintain diversification requirements in our International Intrinsic Value strategy to ensure it is our stock selection that is providing the most value to clients. The goal is to establish a quality-oriented portfolio that will have predictable characteristics and provide excellent returns for the risk taken within the portfolio.

TAM believes Price to Intrinsic Value is the most effective fundamental calculation available to determine the true valuation of a stock. The firm believes investing in stocks with attractive valuation that also possess strong market acceptance, financial strength or superior profitability increases the probability of outperformance. This product is designed to invest in an unconstrained unemotional manner, garnering the full benefit of the combined disciplines. Rebalancing the product quarterly allows the product to benefit from shorter term inefficiencies of the market.

While valuation is central to our philosophy, dividend yield and the growth of that dividend are becoming an increasingly important component of total return. Stocks that exhibit above average dividend yields, reasonable payout ratios and debt levels, with a history of growing those dividends provide an attractive option in the current investment environment. We believe constructing a portfolio with attractive valuation factors and above average dividend profiles creates an alternative way for investors to participate in up markets and protect well in down markets.

While valuation dividend yield is central to our philosophy, common sense dictates that these attributes must be corroborated by company fundamentals and market acceptance. Cheap stocks can become value traps if a company’s fundamental prospects do not support that value or if the market chooses to ignore the valuation and fundamentals because of some other concern. We believe good valuation factors coupled with positive fundamental and dividend prospects along with market recognition provides the right combination of factors to successfully buy stocks. We couple this with sell disciplines based on valuation and fundamentals to limit the risks inherent in stock selection