The first-ever biography of legendary investor T. Rowe Price (T. Rowe Price: The Man, The Company and The Investment Philosophy; Wiley, March 19). The book features private, unpublished personal and corporate records that reveal, for the first time, the creative process behind Price’s highly successful approach to investing; as well as how he built the company bearing his name.
The author, Cornelius Bond, who spent ten years working directly with Price, 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 later became president of the T. Rowe Price Growth Stock Fund and joined the company’s Board of Directors. 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. In the book, Bond considers the investment environment of the next five to ten years as Price himself might have viewed it.
Turning Pricing Power Into Profit
Company managements looking to achieve earnings growth often default to cost cutting, stock buyback, accounting gimmicks and other methods. But there is another way. More often than not, managements overlook pricing as a driver of earnings growth. Pricing power can be an effect way of boosting a company's bottom line. Read More
Advance Praise for T. Rowe Price
"A fascinating biography of an ethical man which both reveals the individual and explores his Growth Stock philosophy. This book sheds light on one of the most successful investment gurus of the twentieth century. The description of his background, the growth of his company to a major entity in the industry, and his investment philosophy are a must read for both fans of biography and investors. The author draws on his own experience at the firm to enrich the details of this story." —Leon G. Cooperman, retired General Partner of Goldman Sachs; Founder, Chairman, and CEO, Omega Advisors
"For those who care about the investment world and its superstars, I highly recommend this thorough and interesting book on Mr. T. Rowe Price—a quiet giant of an investor and the creator of an enduring investment legacy." —David M. Rubinstein, Co-Founder and Co-Executive Chairman of The Carlyle Group
"T. Rowe Price was one of the great investment pioneers. He created three different kinds of innovative investing that have been successfully brought to life by the great firm that bears his name and continues to be admired by its competitors and clients as one of the world's finest investment organizations. Mr. Price was never easy and successful investing is never easy. Neil Bond offers every reader a clearly written introduction and insight into both the man and the firm." —Charles D. Ellis, author of The Elements of Investing and The Index Revolution
"T. Rowe Price was one of the great innovators of the investment management business. He was the first to recognize the potential of growth stock investing and he built an enormously successful firm around that concept. Neil Bond takes you through the development of his investment approach and the evolution of his company. Readers will learn much about stock picking and managing a business from this readable book." —Byron R. Wien, Vice Chairman of Private Wealth Solutions, Blackstone Group; retired Chief Investment Strategist, Morgan Stanley