top of page
At the individual stock level, we search for events that suggest investor misbehavior.

Investors Make Mistakes.

We Look For Them.

There are two kinds of mistakes that produce buying opportunities: over-reaction and under-reaction.

 

Other investors may over-react to bad news and losses (e.g., panic). Or they may under-react to good news (e.g., not pay attention).

Over-reaction

...to historical, negative information

Under-reaction

...to new, positive information

U.S. small-cap blend mutual fund seeks long-term capital appreciation with similar risk levels and characteristics to its benchmark, the Russell 2000® Index.

  • Seeks to capitalize on behavioral biases that may cause the market to over-react to old, negative information or under-react to new, positive information.

​

  • Looks for companies with one or both of:

    • significant insider buying or stock repurchases (over-reaction)

    • large earnings surprises (under-reaction)

​

  • Invests in domestic stocks with market capitalization similar to those included in the Russell 2000® Index

U.S. small-cap growth mutual fund seeks long-term capital appreciation with similar risk levels and characteristics to its benchmark, the Russell 2000® Growth Index.

  • Seeks to capitalize on behavioral biases that may cause the market to under-react to new, positive information.

​

  • Looks for companies with:​

    • large earnings surprises (under-reaction)

​

  • Invests in domestic stocks with market capitalization similar to those included in the Russell 2000® Index

U.S. mid-cap value mutual fund seeks long-term capital appreciation with similar risk levels and characteristics to its benchmark, the Russell MidCap® Value Index.

  • Seeks to capitalize on behavioral biases that may cause the market to over-react to historical, negative information.

​

  • Looks for companies with:

    • significant insider buying or stock repurchases (over-reaction)

​

  • Invests in domestic stocks with market capitalization similar to those included in the Russell MidCap® Value Index

Mid value.jpg
FullerThaler Behavioral Unconstrained Equity Fund
(FTZIX)*                       

U.S. all-cap mutual fund seeks long-term capital appreciation.

  • As an “unconstrained” fund, stock selection is driven primarily by long-term capital appreciation potential.

​

  • Seeks to capitalize on behavioral biases that may cause the market to over-react to old, negative information or under-react to new, positive information. 

​

  • Looks for companies with:

    • significant insider buying or stock repurchases (over-reaction)

    • large earnings surprises (under-reaction)​

​

  • Invests in domestic stocks with market capitalization similar to those included in the Russell 3000® Index 

Asset 5.png

U.S. micro-cap mutual fund seeks to long-term capital appreciation with similar

risk levels and characteristics to its benchmark Russell Microcap® Index.

  • Microcap stocks are generally less liquid, leading to higher volatility and more room for potential investor error

​

  •  Looks for companies with:

    • significant insider buying or stock repurchases (over-reaction)

    • large earnings surprises (under-reaction)​

​

  • Invests in domestic stocks with market capitalization similar to those included in the Russell Microcap® Index

U.S. small-mid core mutual fund seeks long-term capital appreciation with similar risk levels and characteristics to its benchmark, the Russell 2500® Index.

  • Seeks to capitalize on behavioral biases that may cause the market to over-react to old, negative information or under-react to new, positive information. 

​

  •  Looks for companies with:

    • significant insider buying or stock repurchases (over-reaction)

    • large earnings surprises (under-reaction)​

​

  • Invests in domestic stocks with market capitalization similar to those included in the Russell 2500® Index

SMID 2.0.jpg

U.S. mid cap blend mutual fund seeks long-term capital appreciation with similar risk levels and characteristics to its benchmark, the Russell Mid-Cap® Index.

  • Seeks to capitalize on behavioral biases that may cause the market to over-react to historical, negative information or under-react to new, positive information.

​

  • Looks for companies with one or both of:

    • significant insider buying or stock repurchases (over-reaction)

    • large earnings surprises (under-reaction)​

​

  • Invests in domestic stocks with market capitalization similar to those included in the Russell Mid-Cap® Index

Style map MCE.jpg
bottom of page