Great Investor Lessons

This week's WealthTrack features an interview with Steve Romick who has a Gold Analyst rating as he shares lessons he's learned over an illustrious 30 year career.  Enjoy the insights and have a great weekend.  

Great Investor Lessons

September 14, 2023
 

Dear WEALTHTRACK Subscriber,

This week we are featuring part two of our rare interview with great investor Steven Romick, Co-Portfolio Manager of the FPA Crescent Fund which he founded 30 years ago.

Morningstar gives the fund a gold analyst rating noting its “...focus on capital preservation with an unorthodox approach...” It honored Romick and his team with its Allocation Fund Manager of the Year in 2013 citing their “...capital preservation and strong stewardship...”

Since its 1993 inception FPA Crescent has met its mandate of generating equity-like returns with less risk than the market.  Its nearly 10% annualized returns have kept pace with the S&P 500, but the fund has fallen much less during market declines and has recovered much faster.   

Earlier this year Romick was invited to deliver the keynote speech at Morningstar’s annual investment conference to reflect on his three decades of investing. You’ll find a link to the whole speech here.

During this week’s discussion, I asked him to share some of his insights and lessons learned while successfully navigating multiple market cycles including the 1990’s tech bubble, the great financial crisis, the Covid sell-off, and 2022’s market debacle. Interestingly he believes Crescent has survived by “first considering what can go wrong.”     

In our exclusive online EXTRA feature, Romick tells us what he still loves about his job, 30 years in.

If you miss the show on public television, you can watch it on our website over the weekend, along with 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 lovely weekend and make the week ahead a healthy, profitable and productive one!

Best regards,

Consuelo