Stock Shortage

23 snips

Feb 7, 2025

David Giroux, a distinguished portfolio manager at T. Rowe Price, shares his wealth of knowledge on navigating stock predictions amidst volatility. He discusses the unique challenges of active management in a passive-dominated landscape, emphasizing disciplined research for long-term growth. Giroux weighs in on current market dynamics, exploring value accumulation and the influence of AI on industry sectors. The conversation also dives into investment strategies, the complexity of bond returns, and emerging stock opportunities, particularly in the healthcare sector.

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INSIGHT

Market Mix Matters

David Giroux suggests considering market mix changes when evaluating market valuations.
He notes that comparing current market P/E ratios to historical ones can be misleading due to sector shifts.

INSIGHT

Market Uncertainty

Giroux emphasizes the importance of considering future uncertainty rather than extrapolating current market trends.
Market sentiment can shift quickly, so avoid overconfidence in short-term economic conditions.

INSIGHT

Forward Return Estimation

David Giroux's team calculates forward return estimates by analyzing individual company performance and sector trends.
This method contrasts with relying solely on broad market indicators.

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On episode 177 of The Compound and Friends, Michael Batnick and Downtown Josh Brown are joined by David Giroux of T. Rowe Price to discuss: David's outlook for stocks, the Barron's Roundtable, the opportunity in fixed income, earnings season, what it's like managing an ETF, and much more!

This episode is sponsored by Themes ETFs. To learn more about their ETF offerings, visit: https://themesetfs.com/

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