The Long View
Joel Fried and Al Mordecai: Upholding the Culture at Primecap Management
Jan 30, 2024
Joel Fried and Al Mordecai from Primecap Management discuss their impressive results and shareholder-friendly practices. They share insights on their unique approach to advertising and media, their decision-making process, risk appraisal, and position sizing.
55:13
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Quick takeaways
- PrimeCap Management prioritizes long-term investment strategies and fundamental research, avoiding short-term market trends or excessive promotion.
- PrimeCap's investment approach involves individual decision-making and a strong culture that values accountability and preservation of long-term investments.
Deep dives
Overview of PrimeCap Management
PrimeCap Management is a highly respected investment firm founded in 1983. Based in Pasadena, California, the firm manages around $130 billion in assets across a range of Vanguard funds and its own family of mutual funds. With a team of approximately 40 employees, including investment professionals and support staff, PrimeCap focuses on long-term investment strategies and fundamental research. Despite its success, the firm does not engage in public speaking or advertising, prioritizing its mission to provide superior investment returns for its clients.
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