News
Intrepid in the Media
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Webinars
1/26/12: 4th Quarter Portfolio Manager Q&A Presentation "Webinar Presentation" "Transcript"
Video Appearances
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CNBC 9/23/11: "Market Alert" |
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CNBC 6/21/11: "Market Alert" |
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CNBC 4/12/11: "Market Alert" |
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Bloomberg 1/24/11: "Taking Stock" |
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CNBC 1/20/11: "Thrifty Thursday" |
Click here for additional Video Appearances
Articles
Morningstar.com 12/02/11: "Holding Cash is Not a Sin"
Jayme Wiggins interviewed
Forbes.com 9/28/11: "Seven 'Opportunity Stocks' To Own In These Volatile Markets"
Mark Travis interviewed
TheStreet.com 6/30/11: "3 Companies That Are Potential Buyout Targets"
Mark Travis interviewed
Barrons 6/6/11: "Surfer, Hunter, Investor"
Mark Travis interviewed
TheStreet.com 4/11/11: "Fund Managers Tell Where to Invest Your Tax Refund"
S&P 500 annualized returns as of 12/31/11:
1 year: 2.11%, Since Inception of ICMCX 10/31/07:-2.74%
Greg Estes interviewed
TheStreet.com 2/28/11: "Nascar Stocks Have Bottomed, Estes Says"
Greg Estes interviewed
Click here for additional Articles
Press Releases
Intrepid Capital Funds 11/23/10: "Intrepid All Cap Fund Receives Morningstar Rating"
Intrepid Capital Funds 08/10/10: "Intrepid Capital Management Hires Jayme Wiggins"
Intrepid Capital Funds 03/25/10: "Intrepid Capital Fund Wins 2010 Lipper Award For Consistent Performance"
Video Appearances Continued
CNBC 12/9/10: "Thrifty Thursday"
Mark Travis discusses finding value in the markets with Erin Burnett and Mark Haines.
CNBC 11/19/10: "Navigating New Cold War"
Mark Travis discusses currency frictions with Melissa Francis and Trish Regan.
CNBC 11/1/10: "Market Breakdown"
Mark Travis discusses breaking down today's market action with Maria Bartiromo.
CNBC 9/7/10: "Stimulus & Market Impact"
Mark Travis discusses what stimulus will mean for your investments with Trish Regan, Melissa Francis, and Larry Kudlow.
CNBC 8/20/10: "The Early Tick"
Mark Travis discusses his ideas for where to put your money to work on Early Tick with Mark Haines and Erin Burnett.
TheStreet.com 7/31/10: "Top Stocks for Slow Economy"
Mark Travis shares his stock picks for the slow economy with Gregg Greenberg on TheStreet.com.
CNBC 7/28/10: "Closing Bell Countdown"
Mark Travis remarks on the recent earning season with CNBC's Simon Hobbs.
CNBC 7/8/10: "Small Caps Poised to Win"
Mark Travis discusses the small cap market with Amanda Drury during an interview on CNBC Street Signs.
CNBC 6/10/10: "Here Come the Bulls"
Mark Travis comments on market conditions and shares a few stock picks with CNBC's Mark Haines and Erin Burnett.
Articles Continued
Barron's 2/22/11: "Small-Cap Stocks With Big Potential."
Jayme Wiggins interviewed
The New York Times 1/9/11: "Mutual Funds / Quarterly Performance."
ICMAX and ICMBX noted
Investment News 12/29/10: "Intrepid's Travis likes safe, boring investments in 2011."
S&P 500 annualized returns as of 12/31/11:
1 year: 2.11%, 5 years: -0.25%, Since inception of ICMBX (1/3/05): 2.76%
Mark Travis interviewed
TheStreet.com 11/24/10: "Fund Manager's Black Friday Stock Deals."
S&P 500 annualized returns as of 12/31/11:
1 year: 2.11%, Since Inception of ICMCX 10/31/07:-2.74%
Greg Estes interviewed
TheStreet.com 8/4/10: "Buy Fast Cars, Drillers as Growth Slows."
Morningstar Moderate Allocation Category returns as of 12/31/11:
1 year: 2.11%, 3 years: 14.11%, since inception of ICMBX 1/3/05: 2.76%
Mark Travis interviewed
Intrepid Capital Management Funds past performance does not guarantee future results. The investment return and principal value of an investment in the Intrepid Capital Management Funds will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the Intrepid Capital Management Funds may be lower or higher than the performance quoted. Performance data and Fund Ratings current to the most recent quarter end may be obtained by clicking here.
Please click here for each Fund's top 10 holdings. Fund holdings are subject to change at any time and should not be considered a recommendation to buy or sell any security. Current and future portfolio holdings are subject to risk.
The views expressed in these video clips and article reprints are those of the authors as of the dates of the piece and are not intended as a forecasts or as investment recommendations. Information provided with respect to the Intrepid Capital Management Funds Portfolio Holdings, Sector Weightings, Number of Holdings, Performance and Expense Ratios are as of the dates described in the article and are subject to change at any time. Click here for top ten holdings.
The Bank of America Merrill Lynch US High Yield Master II Index is a commonly used benchmark index for high yield corporate bonds. It is administered by Merrill Lynch. The Master II is a measure of the broad high yield market, unlike the Merrill Lynch BB/B Index, which excludes lower-rated securities. The S&P 500 Index is a broad based unmanaged index of 500 stocks, which is widely recognized as representative of the equity market in general. The Russell 2000 Index measures the performance of the small-cap segment of the U.S. equity universe. The Russell 2000 Value Index measures the performance of small-cap value segment of the U.S. equity universe. It includes those Russell 2000 companies with lower price-to-book ratios and lower forecasted growth values. The Dow Jones Industrial Average is an unmanaged index of common stocks comprised of major industrial companies and assumes reinvestment of dividends. The NASDAQ Composite Index is a market capitalization-weighted index that is designed to represent the performance of the National Market System which includes over 5,000 stocks traded only over-the-counter and not on an exchange. The CBOE Volatility Index (VIX) is a key measure of market expectations of near-term volatility conveyed by S&P 500 stock index option prices. You cannot invest directly in an index.
Cash flow measures the cash generating capability of a company by adding non-cash charges (e.g. depreciation) and interest expense to pretax income. Free cash flow measures the cash generating capability of a company by adding non-cash charges (e.g. depreciation) and interest expense to pretax income. Free cash flow yield is an overall return evaluation ratio of a stock, which standardizes the free cash flow per share a company is expected to earn against its market price per share. Enterprise value to cash flow is a measure of a company's value. Cash flow yield is a financial ratio that measures how well a company generates cash from its current operations. Cash flow yield is calculated by subtracting net cash flow from operating activities and dividing the resulting number by net income. Price-to-Earnings (P/E) Ratio is a valuation ratio of a company's current share price compared to its per-share earnings as calculated by Market Value per Share divided by Earnings per Share (EPS). Price-to-Book (P/B) Ratio is used to compare a stock's market value to its book value. It is calculated by dividing the current closing price of the stock by the latest quarter's book value per share. Basis point is a unit that is equal to 1/100th of 1% and is used to denote the change in a financial instrument. Book value is the net asset value of a company, calculated by subtracting total liabilities from total assets. Duration is a commonly used measure of the potential volatility of the price of a debt security, or the aggregate market value of a portfolio of debt securities, prior to maturity. Securities with a longer duration generally have more volatile prices than securities of comparable quality with a shorter duration. Enterprise Value/EBIT is the ratio of the firm's Enterprise Value (The market capitalization of a firm's equity plus the market value of the firm's debt) divided by the firm's trailing twelve month earnings before interest and taxes. Price/Sales Ratio is a stock's capitalization divided by its sales over the trailing 12 months. PEG (Price/Earnings to Growth) Ratio is a valuation metric for determining the relative trade-off between the price of a stock, the earnings generated per share, and the company's expected growth. Margin of safety is a principle of investing in which an investor only purchases securities when the market price is significantly below its intrinsic value.Correlation is a statistical measure of how two securities move in relation to each other. Maximum Drawdown is the largest drop from peak to bottom in a certain time period. Capitalization Rate (Cap Rate) is calculated using a measure of cash flow called net operating income, not net income. Forward Earnings is an estimation of a company's future earnings, usually for the coming quarter or year.
Each Morningstar Category Average represents a universe of Funds with similar investment objectives.
References to other funds should not be interpreted as an offer of these securities.
EPS Growth is not a measure of the fund's future performance.
The Intrepid Capital Management Funds are non-diversified, meaning they may concentrate their assets in fewer individual holdings than a diversified fund. Therefore, the Funds are more exposed to individual stock volatility than a diversified fund. The Intrepid Capital and Small Cap Funds invest in smaller companies, which involve additional risks such as limited liquidity and greater volatility. The Intrepid Capital, Income and All Cap Funds invest in debt securities, which typically decrease in value when interest rates rise. This risk is usually greater for longer term debt securities. Investment by these Funds in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities.
Morningstar, Inc., is an independent mutual fund research and rating service. Each Morningstar category represents a universe of funds with similar investment objectives. Rankings for the periods shown are based on fund total returns with dividends and distributions reinvested and do not reflect sales charges.
The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Mark Travis is the lead portfolio manager for the Intrepid Capital Fund which received a five- star Overall Morningstar RatingTM as of 12/31/2011 out of 843 Moderate Allocation Funds. Greg Estes is the lead Portfolio Manager for the Intrepid All Cap Fund which received a three-star Overall Morningstar RatingTM as of 12/31/2011 out of 378 Mid-Cap Blend Funds. Jayme Wiggins is the lead potfolio manager for the Intrepid Small Cap Fund which received a five-star Overall Morningstar RatingTM as of 12/31/2011 out of 302 Small Value Funds. The Overall Morningstar RatingTM for a fund is derived from a weighted average of the fund's three-year Morningstar RatingsTM metrics, which are based on risk-adjusted return performance.
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating (based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance, including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category received 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Intrepid Capital Fund was rated 5-Stars against the following numbers of U.S. domiciled Moderate Allocation funds over the following time periods: 843 and 736 funds in the last three- and five-years respectively. The Intrepid All Cap Fund was rated three-stars against 378 U.S. domiciled Mid-Cap Blend Funds in the last three years. The Overall Morningstar RatingTM for a fund is derived from a weighted average of the fund's three- and five-year Morningstar RatingsTM metrics, which are based on risk-adjusted return performance. The Intrepid Small Cap Fund was rated four-stars and five-stars against the following numbers of Small Value Funds over the following time periods: 302 and 264 funds in the last three- and five-year periods, respectively.
Morningstar Rankings represent a fund's total-return percentile rank relative to all funds that have the same Morningstar Category. The highest percentile rank is 1 and the lowest is 100. It is based on Morningstar total return, which includes both income and capital gains or losses and is not adjusted for sales charges or redemption fees. Morningstar ranked the Intrepid Capital Fund in the top 20% and 1% out of 963 and 736 Moderate Allocation funds for the one- and five-year periods ending 12/31/11, respectively. Morningstar ranked the Intrepid All Cap Fund in the top 18% and 76% out of 424 and 378 Mid-Cap Blend funds for the one- and three-year periods ending 12/31/11, respectively. For the one- and three- year periods ending December 31, 2011, Morningstar ranked the Intrepid Small Cap Fund 5% and in the top 21% among 352 and 302 funds, respectively in the Small Value category based on total returns. For the five year period ending December 31, 2011, Morningstar ranked the Intrepid Small Cap Fund in the top 1% among 264 funds in the Small Value category based on total returns. Morningstar Absolute rankings for the Intrepid Small Cap Fund were as follows: 18 out of 352 funds, 64 out of 302, and 2 out of 264 funds, respectively for the one-, three- and five-year periods ending in 12/31/11.
Morningstar US Mid-Cap Blend Category Average represents an average of all of the funds in the Morningstar Mid-Cap Blend category.
The Intrepid Small Cap Fund was winner of the 2009 and 2010 Lipper Fund Award for Best Small-Cap Value Fund for three year, risk adjusted performance among 264 and 266 small-cap value funds for the periods ended 12/31/08 and 12/31/09, respectively. The Intrepid Small Cap Fund was not a Lipper Fund Award winner for 2011.
A Lipper Fund Award is awarded to one fund in each Lipper classification for achieving the strongest trend of consistent risk-adjusted performance against its classification peers over a three, five or ten-year period, if applicable. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper. Lipper Analytical Services, Inc. is an independent mutual fund research and rating service.
A Standard & Poor's BB rating means the issuer is less vulnerable in the near-term but faces major ongoing uncertainties due to adverse business, financial and economic conditions. A B rating means the issuer is more vulnerable to adverse business, financial and economic conditions but currently has the capacity to meet financial commitments.
The Russell 3000 Index is an index representing the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
While the funds are no-load, management fees and other expenses apply. Please refer to the prospectus for further details.
Past performance is no guarantee of future results.