Steve Romick doesn’t mince words. The veteran value investor from the FPA Crescent Fund offers a welcome dose of level-headed perspective — especially during chaotic times like these. “It’s only April,” Morningstar’s Leslie Norton noted, “but you’ve had an eventful year.” Fires in Los Angeles, whipsaw markets, and political uncertainty … Read More
Steven Romick: Finding Opportunities Investing In The Gap Between Perception and Reality
In this interview with Excess Returns, Steven Romick discusses how he finds opportunities investing in the gap between perception and reality. Here’s an excerpt from the interview: Romick: Somebody will be on the cover of some magazine in the next year or two that they got it right. And then … Read More
Steven Romick: Considering What Can Go Wrong: A Value Investor’s Perspective
In this interview with WealthTrack, Steven Romick discusses his value investing perspective on always trying to consider what can go wrong with an investment. Here’s an excerpt from the interview: Romick: I think if you need to always look at things from two sides. What can go right as well … Read More
Steven Romick: The Evolution Of A Value Investor
During this interview with WealthTrack, Steven Romick discusses his evolution as a value investor. Here’s an excerpt from the interview: Host: Steven, for the seventh edition of the investment classic Graham and Dodd Security Analysis, you were asked to write an introduction to a chapter about your evolution as a … Read More
Steve Romick: Banks Are Incredibly Vulnerable Due To Duration Mismatch
During his recent Q1 2023 Earnings Call, Steve Romick explained why Banks are incredibly vulnerable due to duration mismatch. Here’s an excerpt from the call: Romick: So, I guess I’ll sum this up and say that the banks that have failed now, I think if we were to rewind a … Read More
Steve Romick: How Value Investing Has Changed Since Graham & Dodd
In his recent interview with Meb Faber, Steve Romick explained how value investing has changed since Graham & Dodd. Here’s an excerpt from the interview: Romick: Let’s take a step back and think about, for those of you familiar with the book “Security Analysis,” the Graham and Dodd book, that’s … Read More
Steve Romick: Understand Who You Are Before You Start Investing
In his recent interview on the In Search Of Excellence Podcast, Steve Romick recommends investors understand who they are before they start investing. Here’s an excerpt from the interview: Romick: I would start with appreciating who each person is. Some people… just not who they are, to really understand how … Read More
Steven Romick: History Shows That High Earnings Growth Is Unsustainable
In his latest presentation to Nedgroup Investments, Steven Romick illustrates, using historical data, why high earnings growth is unsustainable, and why price matters. Here’s an excerpt from the presentation: Romick: A lot has to go right for these companies in the 10th decile to earn equity-like rates of return. Some … Read More
Steven Romick: Achieve Outstanding Results Buying Into Fear
In his latest interview on the Masters In Business Podcast, Steven Romick discussed how he achieved outstanding results buying into fear during the pandemic. Here’s an excerpt from the interview: RITHOLTZ: You are down 34 percent will do that, right? ROMICK: Some of the business we owned were people threw … Read More
Steven Romick: Growth Can Bail Value Investors Out Of A Lot Of Problems
In his latest interview on WealthTrack, FPA,s Steven Romick discusses a number of topics including how growth stocks can bail value investors out of a lot of problems, but not at any price. Here’s an excerpt from the interview: Romick: We’re value investors. It’s a fuzzy line that separates growth … Read More
Tiger-Cub Steven Romick: Value Investors Can Buy Growth Stocks That Offer A Margin Of Safety
Here’s a great interview with Tiger-Cub Steven Romick on The Long View Podcast with Jeff Ptak and Christine Benz. During the interview Romick discusses why value investors can buy growth stocks that offer a margin of safety and why a lot of businesses just won’t be the same in the future … Read More
Steven Romick: Top Buys, Top Sells (Q1 2020)
One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More
Steven Romick – Top 10 Holdings Q1 2019
One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More
Steve Romick – Value Investing Has Morphed From The Days Of Graham and Dodd
We’ve just been listening to a great interview by Meb Faber with one of our favorite value investor’s – Steve Romick, Portfolio Manager for the FPA Crescent Fund. During the interview Romick explains how value investing has morphed from the days of Graham and Dodd. Excerpt: Steve: Value investing is, … Read More
Steven Romick – Avoiding The Worst Performing Stocks Can Lead To Outperformance – Here’s How
Steven Romick at FPA has just put out a great paper called, Two Decades of Winning by Not Losing. It’s a great illustration of how you can outperform in the stock market by avoiding the worst performing stocks. Here’s an excerpt from that paper: Thanks to the accelerated increase of passive investing … Read More
Steven Romick – Admiting to His Mistakes on Hewlett Packard
One of our favorite investors here at The Acquirer’s Multiple – Stock Screener is Steven Romick. Romick is the Managing Partner at FPA Funds, he serves as Portfolio Manager for the FPA Crescent Fund, Source Capital, Inc. and the FPA Multi-Advisor Strategy. Prior to joining FPA, he was Chairman of … Read More