Joel Fried and Al Mordecai: Upholding the Culture at Primecap Management

The Long View

Morningstar

Finance, Dan Lefkovitz, Amy Arnott, Entrepreneurship, Investing Leaders, Jeff Ptak, Investors, Christine Benz, Influential Investors, Careers, Long-term Investing, Financial Services, Business, Investing, Morningstar

4.5 • 775 Ratings

🗓️ 30 January 2024

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

Two veteran managers of the Vanguard Primecap Fund discuss the firm’s storied history, how they run money, and more.

Transcript

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0:00.0	At Jackson, we've created a digital retirement planning experience with you and mine.
0:05.5	Visit jackson.com to explore our easy-to-understand resources and user-friendly tools
0:10.1	that are designed to enable financial professionals and clients to plan a path to financial freedom.
0:15.5	Jackson is short for Jackson Financial Incorporated, Jackson National Life Insurance Company, Lansing, Michigan,
0:20.5	and Jackson National Life Insurance Company of New York, purchase New York.
0:26.5	Please stay tuned for important disclosure information at the conclusion of this episode.
0:32.9	Hi, and welcome to the Longview. I'm Jeff Patak chief ratings officer for Morningstar Research
0:37.6	Services. And I'm Christine Ben's director of personal finance and retirement planning for Morning
0:42.3	Star. Our guest this week are Joel Freed and Al Mordecait of Prime Cap management. Prime
0:48.6	Cap's the longtime manager of several Vanguard Vanguard Funds, including Vanguard Prime Cap, as well as the
0:53.8	Prime Cap Odyssey family of funds. This year, Vanguard Prime Cap, as well as the Prime Cap Odyssey family of funds.
0:56.3	This year, Vanguard Prime Cap will celebrate its 40th anniversary as a mutual fund.
1:00.8	Over its life, Vanguard Prime Cap has handily topped the broad U.S. stock markets and relevant
1:05.7	growth indexes and Prime Cap's other funds have also racked up impressive results.
1:11.4	Morningstar has recognized Prime Cap for its successful record in shareholder-friendly practices
1:15.6	on several occasions, most recently in 2022,
1:19.6	when our analysts named the firm the winner of its annual investing excellence award
1:23.3	in the category of exemplary stewardship.
1:26.8	Prior to that, PrimeCap was a two-time winner of Morningstar's annual Manager of the Year
1:31.4	Award.
1:32.9	Despite this success, Prime Cap does not ordinarily speak publicly, so Christine and I were thrilled
1:38.1	to have the opportunity to chat with Joel and Al.
	...

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