Here's a word to the wise for any executives of publicly traded companies who may be about to be visited by Portfolio Manager Roger Vogel: Don't roll out the red carpet and offer him a slick, well-rehearsed tour of a spotless and smoothly humming facility.

"One thing we worry about are managers who are very promotional," Vogel said. "We can understand it if a manager is a poor presenter. It doesn't mean they are bad managers. But we do get concerned when people get flamboyant or aggressive in their presentation."

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