Being a value-oriented investment management shop based in Denver, a city well-known for growth managers including Janus Capital, Invesco and Founders Capital, it can sometimes feel like you are a fish swimming against the tide.

But Cambiar Investors, with $2.4 billion in assets under management, has chosen to stick to its relative-value style in both domestic and international investments. That style doesn't include bottom-fishing for down-and out stocks, the kind that deep-value managers hope will eventually emerge from the bargain sub-basement.

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