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The TCAF Roundtable
This Week on The Compound
This Week on The Compound
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This week on TCAF, Josh and Michael were joined by David Giroux, Head of Investment Strategy and Chief Investment Officer at T. Rowe Price. They discussed what it’s like to participate in the Barron’s Investment Roundtable, how to do fundamental research, the relentless bid for stocks, and what it’s like managing an ETF. (Listen)
INSIDE THE COMPOUND
Source: YCharts
Josh and Michael joked with David Giroux about the fact that the ETF he manages, the T. Rowe Price Capital Appreciation Equity ETF, has the ticker symbol TCAF. The existence of TCAF highlights the growth in the global ETF business and its importance for traditional asset managers like T. Rowe Price.
OUTSIDE THE COMPOUND
2024 is now well in the rearview mirror, but that doesn’t mean there aren’t still lessons to learn. Larry Swedroe, writing at Alpha Architect, has a post up with nine lessons that the market taught us last year. An excerpt:
Lesson 9: Diversification is always working; sometimes you like the results and sometimes you don’t.
Everyone is familiar with the benefits of diversification. It’s been called the only free lunch in investing because, done properly, it reduces risk without reducing expected returns. But once you diversify beyond a popular index such as the S&P 500, you must accept the fact that you will almost certainly be faced with periods (even long ones) when a popular benchmark index, reported by the media daily, outperforms your more diversified portfolio. The noise of the media will then test your ability to adhere to your strategy.
MERCH
idontshop.com is back up! You can once again order your favorite Compound merch like our Compound x PeterPaid official hoodie!
COMING SOON
This week on TCAF, Josh and Michael will be joined by Robert Frank, Wealth Editor at CNBC.
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