Capital Allocation: Principles, Strategies, and Processes for Creating Long-Term Shareholder Value
by David R. Giroux
ACKNOWLEDGMENTS
I have been interested in capital allocation ever since becoming an industrials analyst in 2000. During my time as an analyst, I saw firsthand the power of capital allocation to create long-term shareholder value—and destroy it. As a portfolio manager since 2006, I attribute much of my long-term success to filling my portfolio with stocks run by management teams and boards that deploy capital exceedingly well.
I started to explore the possibility of writing this book in 2015 during my family’s summer vacation. Much of the book outline was put together then. Unfortunately, my job managing the T. Rowe Price Capital Appreciation Fund and being a husband and father meant that I had little time to write it. Running an $80 billion ...
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