This episode features a discussion with Sébastien Page, CFA, Head of Global Multi-Asset at T. Rowe Price, and three of his colleagues. The conversation illuminates the inner workings of a portfolio management team. The participants delve into the dynamics of consensus building and the role of innovative thinking and creativity in formulating investment strategies.
Key Takeaways:
- Disagreement among team members spurs investment insights and better outcomes.
- The Venn diagram overlap between being right and making money is much smaller than generally understood. You can be right and still lose money.
- Portfolio management isn’t gymnastics. You don’t get extra points for difficulty.