Henry Ellenbogen
speaker
1,069 appearances
1 recordings
1 series
first heard Dec 2025
last heard 16 Dec
Henry Ellenbogen’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Dec 2025 with 1.
Appearances
And all the fund managers came, except for T. Rowe Price himself, who had managed the fund, but was passed away.
And in doing that, I talked to one of the managers who told the story of meeting Sam Walton on the IPO Roadshow when Walmart first came public.
For those of you who don't know, Walmart came public as a super small company.
It only had 50 stores.
And obviously Walmart became Walmart.
And I went back and I looked and I was like, wow, this is definitely one of the 20 stocks that mattered.
but actually, unfortunately, was sold.
And the math at the time was the retail fund, I think I was managing about $8 billion, which was the largest pool of small cap growth money in the country.
And had the stake in Walmart not been sold, the stake in Walmart would have been greater.
than the sum total of everything that I was managing.
And I'm not saying people had made bad decisions before, but actually the math was one bad decision, or maybe you had to make that decision every day because the public markets are open every day, actually wiped out all these other good decisions.
mathematically than had done.
And so what that caused me to do was at that point start to really study the history of the U.S.
public market.
Since then, I think a lot of people talked about the study that came out of Chicago.
Right.
And that's true.
But at the time when I did this, no one had actually asked the simple question.
In the history of the U.S.
equity market, which is to me representative of capitalism,
Showing 41–60 of 1,069 · page 3 of 54
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