T. Rowe Price: The Man, The Company, and The Investment Philosophy

  • 4h 49m
  • Cornelius C. Bond
  • John Wiley & Sons (US)
  • 2019

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 From the private, unpublished personal and corporate records, you will get direct access to the creative process behind Price’s highly successful approach to investing.

  • Personal insights based on Price’s own writings and the personal experience of the author who worked with him for many years.
  • The Growth Stock philosophy as described in the words of the creator and master of this approach.
  • 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.

This book will give you an insider’s access to the true story of Thomas Rowe Price, Jr.

About the Author

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.

In this Book

  • Foreword
  • The House on Dover Road, 1898–1919
  • Lessons Learned, 1919–1925
  • Mackubin, Goodrich & Co., 1925–1927
  • The Great Bull Market and the Crash, 1927–1929
  • After the Crash, 1930–1937
  • Birth of T. Rowe Price and Associates, 1937
  • “Change—The Investor's Only Certainty”
  • The Firm's Adolescence and World War II, 1938–1942
  • The Growth Stock Philosophy
  • Postwar Era, 1945–1950
  • New Opportunities—Mutual Funds, Pension Plans, and the Launch of the Growth Stock Fund, 1950–1960
  • Transitions, 1960–1968
  • The United States Enters a New Era, 1965–1971
  • Dark New Era, 1971–1982
  • The Grin Disappears, 1972–1983
  • Investing for the Decade, 2017–2027
  • Weak Performance of the Growth Stock Fund, 1970s
  • Epilogue—T. Rowe Price Today
  • Sources