Excess Returns Lessons From 30 Years as a Value Investor | Steve Romick
Sep 29, 2023
Steve Romick, FPA Crescent Manager, shares lessons from his 30-year career as a value investor. Topics include the current state of value investing, unique aspects of managing a go anywhere fund, the importance of saying 'I don't know' as an investor, the impact of AI and disruption on the investment landscape, the influence of narratives on the market, the role of cash and drawdowns in investing, and the qualities of standout companies.
Chapters
Transcript
Episode notes
1 2 3 4 5 6 7
Introduction
00:00 • 4min
Investment Style and Flexibility
04:09 • 8min
The Importance of Saying 'I Don't Know'
12:25 • 9min
The Impact of AI and Disruption on the Investment Landscape
21:28 • 7min
Value Investing and the Influence of Narratives
28:57 • 20min
The Role of Cash and Drawdowns in the Investment Process
48:58 • 3min
Qualities and Characteristics of Standout Companies
52:22 • 5min