Details

T. Rowe Price

The Man, The Company, and The Investment Philosophy
1. Aufl.

von: Cornelius C. Bond
19,99 €
Verlag:	Wiley
Format:	EPUB
Veröffentl.:	15.03.2019
ISBN/EAN:	9781119531319
Sprache:	englisch
Anzahl Seiten:	272

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Beschreibungen

Titelbeschreibung

T. Rowe Price, the Sage of Baltimore In 1937, Thomas Rowe Price, Jr. founded an investment company in Baltimore that would become one of the most successful in the world. Today, The T. Rowe Price Group manages over one trillion dollars and services clients around the world. It is among the largest investment firms focused on managing mutual funds and pension accounts. Uniquely trusted and respected, the firm is considered the “gold standard” by many investment advisors. In this book, Cornelius Bond tells the full story, for the first time, of how Price, a modest and ethical man, built the company bearing his name. From the private, unpublished personal and corporate records, you will get direct access to the creative process behind Price’s highly successful approach to investing. <ul> <li>Personal insights based on Price’s own writings and the personal experience of the author who worked with him for many years.</li> <li>The Growth Stock philosophy as described in the words of the creator and master of this approach.</li> <li>Two fund managers who worked closely with Mr. Price reunite to consider the investment environment of the next five to ten years as Price himself might have viewed it.</li> </ul> This book will give you an insider’s access to the true story of Thomas Rowe Price, Jr.

Inhaltsverzeichnis

Foreword ix Acknowledgments xiii Part One The Beginning 1 One The House on Dover Road, 1898–1919 3 Two Lessons Learned, 1919–1925 19 Three Mackubin, Goodrich & Co., 1925–1927 29 Four The Great Bull Market and the Crash, 1927–1929 43 Five After the Crash, 1930–1937 53 Part Two His Own Boss 65 Six Birth of T. Rowe Price and Associates, 1937 67 Seven “Change: The Investor’s Only Certainty” 79 Eight The Firm’s Adolescence and World War II, 1938–1942 87 Nine The Growth Stock Philosophy 97 Ten Postwar Era, 1945–1950 109 Part Three The Sage of Baltimore 121 Eleven New Opportunities: Mutual Funds, Pension Plans, and the Launch of the Growth Stock Fund, 1950–1960 123 Twelve Transitions, 1960–1968 139 Thirteen The United States Enters a New Era, 1965–1971 151 Fourteen Dark New Era, 1971–1982 163 Fifteen The Grin Disappears, 1972–1983 175 Part Four Market Analyses 195 Sixteen Investing for the Decade, 2017–2027 197 Seventeen Weak Performance of the Growth Stock Fund, 1970s 207 Epilogue: The T. Rowe Price Today 213 Sources 233 Index 241

Autorenportrait

CORNELIUS C. BOND joined T. Rowe Price as a technology analyst, rising quickly to become a member of the Investment Committee and an officer of the New Horizons Fund, which became the best performing mutual fund in the country. He spent almost ten years working directly with Thomas Rowe Price, Jr., and later became president of the T. Rowe Price Growth Stock Fund. He left to become the fourth general partner of New Enterprise Associates, which today is one of the largest venture capital firms in the country. Bond lives with his wife, Ann, and his standard poodle, Price, in San Francisco.

Back cover copy

Praise for T. Rowe Price "A fascinating biography of an ethical man which both reveals the individual and explores his Growth Stock philosophy. This book sheds light on one of the most successful investment gurus of the twentieth century. The description of his background, the growth of his company to a major entity in the industry, and his investment philosophy are a must read for both fans of biography and investors. The author draws on his own experience at the firm to enrich the details of this story." —Leon G. Cooperman, retired General Partner of Goldman Sachs; Founder, Chairman, and CEO, Omega Advisors "For those who care about the investment world and its superstars, I highly recommend this thorough and interesting book on Mr. T. Rowe Price—a quiet giant of an investor and the creator of an enduring investment legacy." —David M. Rubinstein, Co-Founder and Co-Executive Chairman of The Carlyle Group "T. Rowe Price was one of the great investment pioneers. He created three different kinds of innovative investing that have been successfully brought to life by the great firm that bears his name and continues to be admired by its competitors and clients as one of the world's finest investment organizations. Mr. Price was never easy and successful investing is never easy. Neil Bond offers every reader a clearly written introduction and insight into both the man and the firm." —Charles D. Ellis, author of The Elements of Investing and The Index Revolution "T. Rowe Price was one of the great innovators of the investment management business. He was the first to recognize the potential of growth stock investing and he built an enormously successful firm around that concept. Neil Bond takes you through the development of his investment approach and the evolution of his company. Readers will learn much about stock picking and managing a business from this readable book." —Byron R. Wien, Vice Chairman of Private Wealth Solutions, Blackstone Group; retired Chief Investment Strategist, Morgan Stanley