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Cimarron History
1979 - SMU professors John Peavy and David Goodman begin groundbreaking quantitative research to determine which
style of investing offers the greatest likelihood of excess returns with the least amount of volatility.
1982 - Their research discovers that stocks chosen by their price / earnings relative -- their value metrics relative to the
sector and industry peers -- consistently outperform. They further discover that sector neutral, equally weighted
portfolios offer the best chance for long term outperformance at below-market risk. This investing style will later
become know as Relative Value Investing (RVI)™.
1983 - Peavy Financial Services is formed to manage assets using Relative Value Investing (RVI)™.
1985 - Peavy and Goodman publish Hyperprofits, a best-selling book and Fortune magazine book of the month for
October 1985.
1993 - Peavy leaves SMU to establish Founders Trust Co.; as Chief Investment Officer he manages client asset using the
RVI™ process.
1996 - Founders Trust AUM exceeds $500 million; firm is acquired by Wells Fargo.
1998 - Peavy and a partner form the equity division of a Wisconsin-based firm which had been primarily a bond manager.
The equity team is based in Dallas.
1999 - Peavy begins serving as Chief Investment Officer for Teacher Retirement System of Texas, one of the nation's
largest public pension funds ($85 billion at the time), while continuing duties with the Dallas-based equity team.
2002 - Peavy returns full time to the Dallas-based equity team.
2003 - Ben Friedman, who had worked as a portfolio manager with Peavy at Teacher Retirement System of Texas, joins
the equity team in Dallas.
2006 - The Dallas-based equity team is spun out of the Wisconsin firm. The new firm, RPF Equity Advisors, manages
equity assets as subadvisor to the predecessor firm and for new clients.
2006 - Jason Safran, Stephanie Jones and Paul Cox join the investment team of the new firm.
2008 - RPF is renamed Cimarron Asset Management, LLC.
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