Based on the materials provided, how (if at all) does the GIM investment methodology differ from the approach used by traditional value investors (i.e., a strategy of buying when the intrinsic value of a stock is lower than the price at which it trades; and selling when the market price approaches the intrinsic value). Like GIM, Elevar is in the business of allocating capital on behalf of investors. Unlike GIM, Elevar seeks to create welfare positive impacts, hence the "impact investor" label. That objective requires an investment methodology that considers the welfare consequences of investee companies. In particular, Elevar seeks firms that make meaningful improvements in the lives of their customers. In your view, what are the most likely results of this approach on the returns to Elevar investors? For instance, do you believe they sacrifice returns? Alternatively, is there a benefit to considering this nonfinancial factor in the investment selection process? Or do you believe it has little or no impact on the performance of Elevar funds? Briefly explain your thinking