ANCHOR QUESTION OFF-CAMERA (ENGLISH) SAYING:

Another manufacturer you like is Eaton. One of the reasons you like it is a global growth story. But when you look at how the stock has performed, it outperformed the S&P 500 last year. Has that been priced in already? How much more room does a stock like Eaton have to go? What else is going to drive it higher?

BRIAN CLANCY, VP AND PORTFOLIO MANAGER DAVIDSON MULTI-CAP EQUITY FUND (ENGLISH) SAYING:

Actually, we've put Eaton in what we call the self-help or in control of their own destiny. And from there, it's really their margin expansion or the synergies that they're getting. We got into Eaton from an investment we had in Cooper Industries and it's really just the synergies that they're going to beget from that acquisition. Their segment profits are around 15%, they're going to 17%. So we do feel that there is still a lot more to go there.

ANCHOR QUESTION OFF-CAMERA (ENGLISH) SAYING:

Let's switch gears, Dick's Sporting Goods. First of all, what do you feel about retail in general? Do you like that space?

BRIAN CLANCY, VP AND PORTFOLIO MANAGER DAVIDSON MULTI-CAP EQUITY FUND (ENGLISH) SAYING:

Retail has been challenging for us and it's been hard. One of the things that attracted us to Dick's and why it came across our screens was just kind of the pullback and the concern that people had about very weak comp sales during the summer and how that was a very wet summer. And so their Golf Galaxy stores were negatively affected. And so we took that pullback as an opportunity, but what we do like about it is really just a couple of things. One, there are still a lot of store growth left there. We still feel it could at least double, so that will definitely drive.

ANCHOR QUESTION OFF-CAMERA (ENGLISH) SAYING:

At least double, you say?

BRIAN CLANCY, VP AND PORTFOLIO MANAGER DAVIDSON MULTI-CAP EQUITY FUND (ENGLISH) SAYING:

Yeah, at least, well it's about 550, I think the management target is 1,100. For our own modeling, we're a little bit less than that but I don't think it really matters. And then there's a lot of margin expansion opportunity. As they increase their promo mix, that's going to do it, they're going to increase their private labels so that's going to improve their margins there as well. So it trades at a premium but you're okay with that compared to its peers. No, actually we look at it relative to itself and it's right in line. It's about 17x.