About Us
pdfReport Print

Andrew Kern, PhD
Vice President


Andrew Kern is a Vice President of Research and Communications initiatives for Transparent Value, LLC. He is responsible for the research operations of the firm and providing on-going communications to the media and Transparent Value clients.

Dr. Kern holds an MBA and PhD in Finance from the Trulaske College of Business at the University of Missouri and currently serves as part-time adjunct faculty at the University of Missouri. Previously he was a managing member of Empirical Finance, LLC and also was an investment adviser representative and principal of a state-registered investment adviser. Dr. Kern has an extensive teaching resume and has taught many undergraduate and MBA-level courses in investments. He has received widespread acclaim for the course he teaches called "The Investment Strategies of Warren Buffett" and has appeared in two CNBC documentaries about Warren Buffett.

See more
Skip Navigation Links.
Glossary
RBP®
The revenue growth necessary to support the current stock price. Required Business Performance®    is used as a benchmark against which to measure management’s ability to perform in the future. It is calculated using a reverse discounted cash flow valuation model that uses the current stock price as the primary input.
RBP® Probability
The likelihood that management will deliver the Required Business Performance®    to support the stock price. It is calculated by fitting the company’s historical revenue growth to a distribution, then finding the company’s Required Business Performance within this historical distribution.
In the hypothetical example below, the company’s RBP®    Probability, represented by green, is 35% while its Behavioral Risk Indicator, represented by red, is 65%. RBP® Probability
Behavioral Risk Indicator
The likelihood that investors’ systematic behavioral biases have caused misalignment between the stock price and management’s ability to deliver. The Behavioral Risk Indicator is designed to capture the impact that human psychology has on the subjective valuation process used by investors. It is defined as one minus the RBP®  Probability.
In the hypothetical example below, the company’s RBP®    Probability, represented by green, is 35% while its Behavioral Risk Indicator, represented by red, is 65%. Behavioral Risk Indicator
RBP® Methodology
A system of fundamental stock analysis that uses a reverse discounted cash flow valuation model to determine what the stock’s current price implies in terms of future free cash flow and revenue (Required Business Performance®    ) as well as the calculation of the likelihood that management can deliver the Required Business Performance®    , known as RBP®    Probability.
RBP® Platform
The Transparent Value decision support tool consisting of an interactive database containing the proprietary data produced by Transparent Value. Included are the Required Business Performance®    (RBP®   ) values, RBP®    Probabilities and Behavioral Risk Indicators for more than 2,000 global stocks, the Transparent Value mutual fund rating system providing coverage of more than 3,000 funds, and also broad market indicators.
RBP® Snapshot
Provides updated company-specific RBP®    information based on the company's most recent quarterly financial data. The RBP®    Snapshot consists of the RBP®    probability and RBP®    values for a particular company.
The Funds are new and have limited operating history. An investment in the Funds involves risks, including loss of principal. No assurance can be given that the investment objectives described herein will be achieved. The Funds seek to track a quantitative strategy index, meaning that the Funds invest in securities comprising an index created by a proprietary model. The success of the Fund’s principal investment strategies depends on the effectiveness of the model in screening securities for inclusion in the Index.

For more complete information about the Funds, see the prospectus or call 1 (888) 727-6885. Financial Advisors should call 1-855-TV Funds or 1-855-883-8637. Read the prospectus carefully before you invest or send money.

ALPS Distributors, Inc is not affiliated with Guggenheim Investment Management, LLC, Transparent Value Advisors, LLC (“TVA”) and/or Guggenheim Partners, LLC. TVA and ADI are not affiliated with Dow Jones. Transparent Value Funds are distributed by ALPS Distributors, Inc (“ADI”).

Check to see if any of the stocks mentioned on this website are owned by any of the Transparent Value Funds. Click here >>