Origins
Born in Maryland in 1898, he earned a chemistry degree from Swarthmore College and worked in a lab before realizing his true passion was for companies, not chemical compounds.
Finance
🇺🇸 T. Rowe Price Jr.(b. 1898)
Founded T. Rowe Price, father of growth investing
T. Rowe Price Jr. pioneered growth stock investing, founding a namesake firm that became a global asset management giant.
“Growth at a reasonable price.”
8 Courses · 40 Lessons · 5 Hours
30-day money-back guarantee
Biography
The story of T. Rowe Price Jr., from the beginning.
The turning point
He transitioned to finance in the 1920s and experienced 1929 firsthand. Against the orthodoxy of the time, which favored only bonds and discount securities, he argued that companies, like organisms, have a life cycle and that it's worthwhile to buy them during their growth phase.
The rise
In 1937, he founded T. Rowe Price Associates in Baltimore, among the first to charge a fee based on assets under management rather than commissions, aligning their interests with those of the client. In 1950, he launched the Growth Stock Fund, bringing growth investing to the public.
The method
He sought well-managed companies in expanding sectors, with high margins, robust research and development, and the ability to grow for decades; then he held them, letting time do its work. He was also one of the first to warn against inflation as an invisible tax.
Today and the legacy
He sold the company in the early 1970s, predicted the decade's stagnation, and died in 1983. The group bearing his name today manages over $1.5 trillion.
His library
8 courses on how T. thinks.
8 Courses · 40 Lessons · 5 Hours. Select a course to see every lesson inside it.
New to T.? Start here
The Permanent Portfolio: Growth at a Reasonable Price
Grasp the core principles of identifying enduring growth opportunities in dynamic markets.
Beginner
Intermediate
Deep Dive
Beginner
The Permanent Portfolio: Growth at a Reasonable Price
5 lessons
- 01
Birth of the Growth Stock: The 1930s Paradigm Shift
8 min read - 02
Defining 'Growth': Beyond Just Sales Figures
8 min read - 03
The 'Permanent Portfolio' Concept: Long-Term Compounding
8 min read - 04
Valuation in Growth Investing: Price's Reasonable Expectations
8 min read - 05
Compounding Returns: The Eighth Wonder of the World in Practice
8 min read
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