Stageline Value Equity Team

The Stageline Value Equity team's core philosophy and process have not changed since 1984. It begins with a time-tested multifactor model as the initial screen to produce bias-free investment ideas. From there, rigorous fundamental research is performed on a subset of stocks to identify attractive investment opportunities with a focus on:

Neglected firm opportunities: The team finds value away from the crowd, such as investments with limited Wall Street analyst coverage and institutional ownership. They believe stocks with market caps below $1 billion are less efficiently priced.

Contrarian: The team looks for companies that other investors tend to avoid. We buy good companies with poor stock prices due to accidental or nonpermanent conditions.

Bottom-up fundamentals: The team follows a disciplined adherence to bottom-up fundamental analysis with a focus on firm cash-flow generation. They buy companies whose current stock price does not accurately reflect the true value of underlying assets, earnings, cash flow, and business franchise.

Patience: The team's horizon is three to five years. As contrarians and value investors, they like to take advantage of what other people are selling; they prefer to invest when they aren't competing with other buyers.

Portfolio management team

Garth Nisbet, CFAGarth Nisbet, CFA
Senior Portfolio Manager
32 years investment experience
Craig R. Pieringer, CFACraig R. Pieringer, CFA
Portfolio Manager
33 years industry experience
Jeff GovermanJeff Goverman
Portfolio Manager
30 years industry experience
Lake Oswego, OR

Team location

Lake Oswego, OR

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