Generally you go with a manager who has a meaningful track record somewhere. It doesn't guarantee this is a smart or good manager, but at least it said I've got a few years and I can learn a lot from that.
If you thought you were the only one having a hard time finding a good small-cap fund, foreign or domestic, that was still open and not too bloated from assets, think again.
He's a very sharp guy who did a really good job at Mutual Series. They got points for not giving up on their strategy during the growth boom and tossing aside dividends and balance sheet analysis.
Some of the best performers for the bear market had an awful quarter and some of the worst performers during the bear market had a good quarter.
It's a good strategy, a good manager, just not a very appealing wrapper.