GREAT INVESTOR STEVEN ROMICK LOADED UP ON UNLOVED STOCKS DURING 2020 SELL-OFF. WHAT’S HIS PLAN NOW?

May 14, 2021

“Jack be nimble Jack be quick” isn’t a concept one usually associates with long term value investors but sometimes extraordinary times call for exceptional responses. The first quarter of 2020 was one such event for this week’s guest. 

Steven Romick, who has appeared on WEALTHTRACK since our launch in 2005 rarely does television interviews which is one of the many reasons we are delighted to have him with us this week. For those of you not familiar with him, he is Co-Portfolio Manager of the FPA Crescent Fund which he founded in 1993 and ran for many years before bringing on his current team. Since its inception this go anywhere, invest in anything balanced fund has delivered better than 10% annualized returns besting the stock market and its balanced portfolio benchmarks by substantial margins. 

WEALTHTRACK Episode #1746; Originally Broadcast on May 14, 2021

Listen to the audio-only version here:

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STEVEN ROMICK


ACTION POINT

LOOK FOR PORTFOLIO MANAGERS INVESTING SUBSTANTIAL AMOUNTS IN THEIR FUNDS HIGH MANAGER INVESTMENT

  • Funds have historically performed better than those without it
  • Sign of commitment and belief in their own strategies


ONE INVESTMENT

CONSIDER BUILDING A PORTFOLIO OF SPACS TRADING AT OR BELOW TRUST VALUE

  • If SPACs make good acquisitions can make money
  • If deals seem unattractive can redeem shares 

STOCKS

Stock mentions in this episode

  • Marriott International CL A (MAR)
  • Booking Holdings Inc (BKNG)
  • American International Group (AIG)
  • Alphabet Inc CL A (GOOGL)
  • Alphabet Inc CL C (GOOG)
  • LafargeHolcim Ltd REG (LHN.SW)
  • Facebook Inc Class A (FB)
  • Alibaba Group Holding SP ADR (BABA)
  • Baidu Inc SPON ADR (BIDU)

FROM THE ARCHIVE

Steven Romick from WEALTHTRACK the Archives:

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WEB EXTRA

PANDEMIC IMPACT

Steven Romick and the FPA Crescent team were convinced early on that life would return to normal after COVID; they just didn’t know when. Romick describes how they coped and what’s changed.


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