I've notice that fund manager Eric Cinnamond did some buying on the dips during the month of August. His cash position fell from 49.5% on July 31st to 40.8% on August 31st. He still has lots of powder left!
The fund's performance during the month of August was very impressive and not just because he held 40% cash:
ARIVX = -1.86%
Russell 2000 Value = -8.83%
Keep up the good work Eric!