Steven Romick - First Pacific Advisors

Steven Romick

Steven Romick, CFA is Co-Managing partner of First Pacific Advisors, LLC, a Los Angeles-based investment manager with $21 Billion under management in equity, fixed income, and alternative strategies.

He began his investment career in 1985 with Kaplan, Nathan & Co as an analyst. He started his own firm, Crescent Management, in 1990 in order to focus on finding out-of-favor, low risk/high return investments in various parts of the capital markets. 

Mr. Romick serves as a member of Arden Group, Inc. Board of Directors and as its Audit Committee Chair.  His philanthropic involvement includes serving as a member of the Board of Directors of Cedars Sinai Medical Center, Our House, and Phase One.

Mr. Romick earned a BS in Education from Northwestern University and is a CFA Charter holder. back

Articles

Value Investing World
Steven Romick’s Q3 Letter

Value Investing World - 10.29.12
At the end of 2011, we believed that economists and Wall Street analysts were generally too optimistic with respect to 2012 expectations. Since then, we’ve been proven correct. United States (and EU) GDP is far lower than expected. The U.S. deficit (and thus our national debt) is larger than projected. And predictions of corporate earnings turned out to be too optimistic.

Business Week
Steve Romick: A "Free-Range" Fund Manager

Bloomberg Businessweek - 07.29.10
Steven Romick loves his freedom—and so do his investors. Romick has described his $3.5 billion fund, FPA Crescent (FPACX), as "a free-range chicken." The fund can buy stocks or bet against them, stay in the U.S. or go abroad, purchase high-quality debt or junk, or even load up on cash. The flexibility has paid off. The fund's return for the past decade is an annualized 11 percent, better than 99 percent of its rivals, according to Morningstar.

Guru Focus
Steven Romick on Investment Outlook, Heathcare Sector and Aon Corp.

Guru Focus - 02.08.10
For the past decade, during which the general market declined slightly, Crescent Fund grew an average of 10.69% per year. For 4Q09, Crescent Fund increased 5.3% for the fourth quarter, and 28.4% for 2009 and, in doing so, successfully earned back its 2008 losses. In the most recent two-year period of tremendous volatility, Crescent increased 2.0%, while the S&P 500 declined 20%, both returns on a cumulative basis.

Guru Focus
GuruFocus.Com Interview With Steve Romick, Portfolio Manager Of FPA Crescent

Guru Focus - 10.09.12
GuruFocus readers recently got to ask Steve Romick, FPA Crescent portfolio manager, their questions about investing. Romick's mutual fund FPA Crescent Fund is up 19.76% over the last year and has delivered an annualized return exceeding 9% over the last decade. His fund is slightly different from most mutual funds in that it is diversified across a different basket of asset classes to provide equity rates of return with less risk.

Guru Focus
New Guru Added

Guru Focus - 03.10.10
GuruFocus is very pleased to announce that we have added Steven Romick of FPA Crescent Fund into our List of Gurus. Steven Romick has been the portfolio manager of FPA Crescent Fund since its inception in 1993. Over the 10-year period ended Jan. 31, 2010, his fund has averaged 11.19% a year, while the S&P500 is in negative. Steven Romick has shown his excellent risk management skills in investing strategies, he is one of the few managers that can beat the market in both directions.


Videos

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Steven Romick On WealthTrack

GuruFocus - 10.20.12

On this week’s Consuelo Mack WealthTrack, a rare interview with Great Investor, Steven Romick of FPA Crescent Fund. Romick describes how he is keeping his five-star rated fund on top by balancing the forces of inflation and deflation and continuing his contrarian, value-oriented strategies.
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Romick: Market Not as Interesting for Deep Value Investors

Morningstar - 05.10.10

FPA Crescent manager Steve Romick says it's simply harder to find great risk-reward opportunities in today's market.
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Steven Romick’s Top Two Stock Picks

ValueWalk - 10.09.12

Steven Romick, First Pacific Advisors, reveals his two favorite stock picks. He also says why he is not bullish on bonds. “You’re not getting paid to play if you are buying high-yield bonds,” he adds.
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