FYI: ( I will link episode as soon as it becomes available for free, early Saturday morning.)
Regards,
Ted
March 29, 2018
Dear WEALTHTRACK Subscriber,
We are in for a rare treat this week. A two time Morningstar Manager of the Year awardee is making his first appearance on WEALTHTRACK at a time when he is in the midst of repositioning his mutual fund for more challenging times ahead.
He is David Giroux, portfolio manager and Chairman of the Investment Advisory Committee of T. Rowe Price Capital Appreciation Fund which is a Morningstar gold medalist and carries a five star rating. Giroux was named Morningstar’s Allocation and Alternatives Fund Manager of the Year in 2017, the second time he was so honored. The first was in 2012 for the inaugural Morningstar Allocation Fund Manager of the Year Award.
Morningstar cited Giroux’s “savvy allocation decisions and disciplined approach” which have “paved the way to the fund’s 9.2% annualized gain during his tenure, which began in 2006.” That performance was 3.6 percentage points a year better than its typical category peer. But as you will discover in a moment, beating a benchmark or category is not what Giroux and his capital appreciation fund team are all about, although it is one of the reasons the fund had to close to new investors in 2014.
The fund has three goals: Generate strong risk-adjusted returns annually; Preserve shareholder capital over the intermediate term (i.e., 3 years); and Generate equity-like returns with less risk than that of the overall market over a full market cycle (i.e., normally five years). So far, during Giroux’s tenure, those goals have been achieved.
He will explain how he plans to achieve them in the future, especially given the high valuations in the stock and bond markets.
As always, this week’s program is available to our PREMIUM subscribers right now. And in our exclusive EXTRA feature Giroux will tell us about joining T. Rowe Price right out of college and never looking back.
Thank you for watching. Have a joyous Easter and Passover and make the week ahead a profitable and a productive one.
Best regards,
Consuelo
Video Clip:
M* Snapshot PRWCX:
http://www.morningstar.com/funds/xnas/prwcx/quote.htmlLipper Snapshot PRWCX:
https://www.marketwatch.com/investing/fund/prwcxPWRCX Ranks #20 In The (50-70% E) Fund Category By U.S. News & World Report:
https://www.marketwatch.com/investing/fund/prwcx 
