Steve Romick

Steve Romick, a seasoned value-oriented portfolio manager and co-portfolio manager of the FPA Crescent Fund, shares insights on navigating market risks while maximizing returns. He discusses his risk-first approach, highlighting lessons from the dot-com bubble and the importance of valuing durable businesses. Romick emphasizes the significance of adapting investment strategies, the current market landscape with opportunities in small/mid caps, and the potential impact of AI. He also critiques cryptocurrencies due to valuation challenges, providing a thorough outlook for active investors.

Renowned investors including Guy Spier, Rob Arnott, Michael Mauboussin, Steve Romick, Joel Tillinghast, Cem Karsan, Bob Ellott, and Jerry Parker share their most important investing lessons. Topics covered include self-forgiveness, action, and diversification, the importance of knowledge and flexibility, avoiding natural investing mistakes, analyzing the truth and geopolitics, investing in real opportunities, thorough homework and independent research, the significance of rebalancing, finding your investing philosophy, understanding the importance of perspective, the importance of price confirmation and having an open mind, maximizing contributions to retirement accounts, and teaching children about investing.

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.