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The Long View

David Giroux: ‘I Want to Look Forward, Not Backward’

The Long View

Morningstar

Finance, Dan Lefkovitz, Amy Arnott, Entrepreneurship, Investing Leaders, Jeff Ptak, Investors, Christine Benz, Influential Investors, Careers, Long-term Investing, Financial Services, Business, Investing, Morningstar

4.5775 Ratings

🗓️ 3 October 2023

⏱️ 56 minutes

🧾️ Download transcript

Summary

The successful manager of T. Rowe Price Capital Appreciation discusses the new ETF he’s running, stock-picking, index concentration, and more.

Transcript

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0:00.0

At Jackson, we've created a digital retirement planning experience with you and mine.

0:05.5

Visit jackson.com to explore our easy-to-understand resources and user-friendly tools

0:10.1

that are designed to enable financial professionals and clients to plan a path to financial freedom.

0:15.5

Jackson is short for Jackson Financial Incorporated, Jackson National Life Insurance Company, Lansing, Michigan,

0:20.5

and Jackson National Life Insurance Company of New York, purchase New York.

0:26.5

Please stay tuned for important disclosure information at the conclusion of this episode.

0:32.6

Hi, and welcome to the Longview. I'm Jeff Patak, Chief Ratings Officer for Morning Star Research Services.

0:38.6

And I'm Christine Ben's Director of Personal Finance and Retirement Planning at Morningstar.

0:42.9

Our guest this week is David Giroux. This is David's second appearance in the Longview.

0:47.8

We first spoke to him in February 2021 and are pleased to welcome him back.

0:52.7

David is head of investment strategy and chief investment officer for Tiro Price Investment Management.

0:58.0

He's best known as the longtime lead manager of Tero Price Capital Appreciation Fund,

1:03.0

a strategy that invests in a mix of stocks and bonds.

1:07.0

Since taking that fund's helm in June 2006, he's wrecked up an impressive track record,

1:12.6

handily beating the fund's benchmark and peers.

1:15.5

David also manages the T.Rowe Price Capital Appreciation Equity ETF, a stock ETF that T.R.

1:21.2

T.R.O. launched in June of this year. David began his career at T.R. in 1998 after graduating

1:27.4

from Hillsdale College, from which he

1:29.5

received his bachelor's degree in finance and political economy. David, welcome back to the Longview.

1:36.1

Thank you for having me back, and I'm looking forward to the conversation today.

1:40.3

Thank you so much. We're really pleased to have you. We wanted to start off by maybe taking a step

1:46.7

back, asking you to reflect a bit on the experience that you've had as a professional investor.

...

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