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David Giroux Video

Observant1
edited June 8 in Other Investing
I discovered the following video while navigating the vast interwebs.
I know Mr. Giroux has many fans here.

"In this conversation, Giroux shares his investment philosophy,
including how he identifies GARP (growth at a reasonable price) opportunities,
adapts to market inefficiencies, and constructs a resilient portfolio.
He also discusses his outlook on AI, interest rates, market cycles,
and why long-term thinking remains a powerful edge in today's short-term-obsessed market."

Timestamps:
00:00 Introduction to David Giroux and his track record
02:00 What “growth at a reasonable price” means to him
05:00 Market outlook and 5-year return forecasts
10:00 How short-termism creates opportunity
12:00 Tariffs, macro shocks, and stock picking
16:00 The role of bottom-up IRR modeling
18:00 Does passive investing distort market signals?
22:00 The inefficiencies created by sector-based ETFs
26:00 How his process evolved to capture intangible-rich businesses
29:00 Tech valuations vs. the dot-com bubble
32:00 Where he sees opportunity: software, healthcare, utilities
36:00 Areas he’s avoiding: financials and cyclicals
38:00 The role of management and capital allocation in success
43:00 How he uses quantitative tools for downside risk
46:00 Risk-adjusted return as the true North Star
48:00 How investor behavior has changed over his career
50:00 The long-term economic implications of AI
53:00 U.S. vs. international stocks from a bottom-up view

https://www.youtube.com/watch?v=J6SBVS7VpTA

Comments

  • Sven
    Thank you for sharing. I do wish he has his co-manager, Farris Shuggi, be part of the interview, so we can learn more in-depth on their bond investment strategies. On the surface, Giroux’s funds invest in bank loans, high yield, corporate, and treasury for income. How do they manage their portfolio comparing to the traditional asset allocation funds?
  • Sven
    Thank you for sharing. I do wish he has his co-manager, Farris Shuggi, be part of the interview, so we can learn more in-depth on their bond investment strategies. On the surface, Giroux’s funds invest in bank loans, high yield, corporate, and treasury for income. How do they manage their portfolio comparing to the traditional asset allocation funds?
  • beebee
    @Sven,

    Tim Murray from TRP does a nice write up regarding bonds:

    are-us-treasuries-still-a-shelter-from-recession/are-us-treasuries-still-a-shelter-from-recession
  • Sven
    edited June 9
    @bee, thank you for sharing the above article. Murray also pointed out the investors shifting away from treasuries may relate to the enormous deficit. This government debt is getting bigger while trillion $ of interest being paid every year. The argument has always been the US can grow their way out of debt owe to the world. This failed every year as the administrations ask Congress to lift the debt ceiling. So the problem continues until bond investors refuse to buy long treasuries and invest elsewhere.
  • CrashCrash
    Thanks for the vid. No surprises, but always nice to hear from him.
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