Telecoms are gaining flow -- they are cheap, have good fundamentals and are liquid.

The flow in the stock is very big, which is also propping it up.

The market has spent the day nervously awaiting the Argentine auction. There had been different opinions, so when it happened and results were in line or better than expected, stocks jumped up.

We really have a diversified portfolio of cheap stocks with improving fundamentals, ... That's really our mantra of the fund, and we want to make sure that we're participating in all segments of the market so that we can give our investors consistent returns over the long run.

All good things are cheap: all bad are very dear

Cheap things aren't good, and good things aren't cheap.