As far as Olstein is concerned, successful investing is based on the books. Research firm Morningstar sums up Olstein's investing philosophy nicely:

"This offering likes to go where others fear to tread. Management looks to pick up companies with strong balance sheets that are mired in bad news. This contrarian bent and an emphasis on conservative accounting has been a potent combination over time."

Since it began in 1995, the Olstein Financial Alert Fund has outperformed the mid-cap value average and the S&P 500 every year but one, according to Morningstar. Over the past five years, the fund has ranked in the top 2 percent of its category.

This year hasn't been quite as fruitful. Year-to-date through the end of August, the Olstein fund was down 17.1 percent, slightly ahead of the S&P 500 but below the mid-cap value average.

In the 1970s, Olstein and then-partner Thornton O'Glove, produced the "The Quality of Earnings Report," a widely-quoted newsletter that promulgated the belief that "it is essential in stock selection to spend time with financial statements looking behind the numbers, rather than relying upon management contact." In the early 1980s, Bob sold his interest in the service to pursue a career as an investment advisor, applying the quality of earnings philosophy of utilizing financial statement alerts and error avoidance as the keys to achieving long-term investment objectives.

The Olstein Financial Alert Fund was founded in 1995. From 1981 to 1995, he was with Salomon Smith Barney.

Olstein is a member of numerous professional organizations, including the New York Society of Securities Analysts and the Financial Analysts Federation.

Millen joined Jensen in 2000 and currently serves as principal and director of Jensen Investment Management, and vice president and secretary of The Jensen Portfolio. He is also a member of the firm's investment committee.

The Jensen Portfolio is one of the few mutual funds to actually see its assets grow this year, to $570 million from $118 million on Jan. 1, according to Millen. The fund is picky with just 26 stocks currently, but the careful approach carried Jensen to a 20 percent return in 2000 and breakeven in 2001 -- good enough to put Jensen in the top 1 percent of its large-cap growth category, according to Morningstar.

"Despite this fund's concentrated format, management's emphasis on valuation has kept volatility low," Morningstar says. "It doesn't sacrifice quality for a low price, either--it only buys companies with long histories of delivering high returns on equity."

Before Jensen, Millen managed a retirement product line as vice president of Principal Financial Group from 1997 to 2000. From 1990 to 1997, he was group vice president for Wellmark's financial services and $1 billion investment portfolio. He was president of First Interstate Bank NA in Des Moines, Iowa from 1981 to 1990, and previously held senior management positions at Wells Fargo in Des Moines. In addition to leading key business operations during his career, Mr. Millen has managed start-up operations and directed merger and acquisition activity.