High Conviction Portfolio

It's when the market is really low that the best buying opportunities present themselves and David Giroux of T. Rowe Price's Capital Appreciation Fund and this week's guest on WealthTrack is an expert at it.  As pointed out below, though his fund has been closed to additional investors for capacity reasons, that doesn't mean that we can't still tap in to his expertise. Hope everyone is enjoying this nice autumn weekend.  

October 6, 2022

Dear WEALTHTRACK Subscriber,

“What do we want to own when things are cheap?” is the question driving great investor David Giroux on a daily basis. The fund manager Morningstar calls “one of the best in the business” and a “pre-eminent investor at the top of his game” will answer that question in this week’s WEALTHTRACK, but first some background. 

Giroux is Chief Investment Officer and Head of Investment Strategy for T. Rowe Price Investment Management. His reputation as a great investor has been earned as the Portfolio Manager of T. Rowe Price’s Capital Appreciation Fund which he has run since 2006. 

Giroux is a five-time nominee and two-time winner of Morningstar Fund Manager of the Year, the most recent being in 2017 in Morningstar’s Allocation and Alternatives category. He is also a 17-time winner of the Lipper Best Fund Award. He became a member of the prestigious Barron’s Roundtable in January and recently published a book titled Capital Allocation, which will be the topic of another WEALTHTRACK program.  

Since inception, Capital Appreciation Fund has more than met its long-term goals of matching the absolute returns of the S+P 500 with substantially less risk. As Morningstar says, he has done it by “...relying on savvy stock picks to spur the fund’s performance.” Unfortunately, the nearly $50 billion fund has been closed to new investors since 2014 due to capacity restraints, but we can still tap into Giroux’s expertise.

It’s been a rough year for the markets and Capital Appreciation, although it’s down less than the market and its category. In this weekend’s episode, Giroux will give us his view of the state of the market, its risks and potential rewards. 

We also have an exclusive EXTRA feature with Giroux who will discuss how he is handling the many demands now being made upon his time, including the Barron’s Roundtable.    

If you miss the show on public television, you can watch it on our website over the weekend, along with all of our past programs and our guests’ One Investment recommendations.  You can also find the WEALTHTRACK podcast on Stitcher and SoundCloud as well as iTunes and Spotify.

Have a rejuvenating weekend and make the week ahead a healthy, profitable and productive one!

Best regards,

Consuelo