Decision Process The Cooke & Bieler team of research/portfolio professionals meets frequently to review existing holdings, portfolio structure, and consider new investments Each analyst/portfolio manager has substantial research autonomy Professionals must know and "champion" their investment ideas to convince the peer group Professionals "own" their ideas in all C&B portfolios and their compensation is substantially dependent on the success of those specific investments Ideas and recommendations are both challenged and supported Decisions are made based upon consensus after thorough discussion Decision making is efficient and timely