In this episode, we speak with FPA Crescent Manager Steve Romick. Steve has built an exceptional long-term record using an approach that combines value investing with protection of capital and drawdown management. We discuss the biggest lessons he has learned in his decades of managing money, get his take on the current state of value investing and talk about many of the unique aspects of managing a go anywhere fund.

We hope you enjoy the discussion.

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Lessons From 30 Years as a Value Investor | Steve Romick