Steven Romick on Portfolio Investments (Podcast)

Masters in Business

Bloomberg

Business, Entrepreneurship, Investing

4.4 • 2.2K Ratings

🗓️ 2 July 2021

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bloomberg Opinion columnist Barry Ritholtz speaks with Steven Romick of First Pacific Advisors, which manages approximately $28 billion. Romick is a managing partner and portfolio manager at FPA; prior to joining the firm in 1996, he was chairman of Crescent Management and a consulting security analyst for Kaplan, Nathan & Co. He earned his bachelor’s degree from Northwestern University and is a CFA charterholder.

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Transcript

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0:00.0	This is Mesters in Business with Barry Reynolds on Bloomberg Radio.
0:08.4	This week on the podcast, I have a special and fascinating guest.
0:13.2	His name is Steve Romick.
0:14.4	He is the managing partner at First Pacific Advisors, a shop in L.A. that runs about $26 billion.
0:22.2	In assets, he has also run the Crescent Fund since 1993.
0:27.0	It's about $11 billion and the numbers on that fund are really quite astonishing.
0:33.3	One of the reasons I first wanted to start doing podcasts and interviews of asset managers
0:40.8	was because of people like Steve Romick.
0:44.0	You know, he's not on the cover of magazines.
0:46.7	You don't see him on television all the time.
0:49.1	But here's a guy running real money, a substantial amount of assets, with a fantastic long-term
0:55.6	track record.
0:57.4	He is not a household name.
0:59.1	I think the average, forget the average investor.
1:02.8	The average professional probably doesn't know who Steve Romick is.
1:07.8	That's too bad because folks like this really allow you to learn an important lesson about
1:14.9	how to manage risk, how to take advantage of opportunities, what you should be thinking
1:19.6	about as a portfolio manager, as an investor.
1:23.6	He's just a fascinating guy with a really interesting history.
1:29.2	I found our conversation to be really intriguing and I think you will also.
1:33.7	So with no further ado, first Pacific Advisors, Steve Romick.
1:40.8	This is Masters in Business with Barry Redholz on Bloomberg Radio.
	...

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