Thomas Rowe Price, Jr. was born in 1898, and originally embarked on a career as a chemist. However, he was far more interested in investing, and soon left his job at industrial giant DuPont to work in a brokerage. In 1937 he set up his own investment advisory firm, T. Rowe Price Associates, and in 1950 he set up the T. Rowe Price Growth Stock Fund, the first of many funds he was involved in. He sold his holdings in his company and retired in 1970.
What was his strategy?
Did this work?
What were his biggest successes?
He was vindicated in 1974 whenmany popular growth stocks collapsed. He put a large chunk ofhis own money in gold and resources stocks, which benefitedfrom surging inflation and the collapse of the gold standard.Unfortunately, his company had ignored his advice, and sawthe value of its funds collapse.
What other advice did he have for investors?
Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.
He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.
Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.
As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.
Follow Matthew on Twitter: @DrMatthewPartri
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