On April 26, 2023, nearly a month before the Morningstar Gold-rated FPA Crescent Fund’s (FPACX) 30th anniversary, FPA portfolio manager Steven Romick headlined as a keynote speaker at the 2023 Morningstar Investment Conference held in Chicago.1
In his speech, Mr. Romick reflected on how his evolution as an investor enabled the Fund to meet its objective since its inception. He also discussed the recently completed market cycle from October 2007 to January 2022, during which many value investors struggled.2 Mr. Romick imparted valuable lessons he has learned from his nearly four decades of experience in investing.
For those who missed the conference, the full transcript of Steven Romick’s speech at the conference is available below. A video of the speech will be posted soon.
The Evolution of a Value Investor
Click Here to Download the Speech Transcript
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