Value Invest New York: Is This Bank Better Than JPMorgan?

At the Value Invest New York conference last week, James Wilson of Phoenix Asset Management Partners discussed his long thesis for Hingham Institution for Savings (NASDAQ:HIFS), a littler-known regional U.S. bank that he said has been trading at a discount.

Wilson manages Phoenix's performance-fee-only strategy, The Huginn Fund, which has an international focus. He said they originally tested the idea in the U.K. and found that it worked, so they decided to try it overseas in a new fund. Now five years later, the performance-fee-only strategy is up by about 65%, versus the benchmark's gain of 35%.

As far as his strategy, Wilson explained that he simply looks for what works in reality rather than "listening to the sort of high...