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Investment CEO Speaks At Chamber Breakfast

Investment CEO Speaks At Chamber Breakfast

Tommy Murphy Staff Writer

The LaGrange-Troup County Chamber of Commerce held their monthly Early Bird Breakfast Tuesday morning at Del’Avant in LaGrange with guest speaker, Ric Dillon, CEO of Diamond Hill Capital Management, Inc. Dillon serves as CEO and a portfolio manager for Diamond Hill Investment Partners, which he founded in May of 2000. Since then Diamond Hills asset management accounts have grown from $25 million to about $17 billion.

Dillon began his investment career in 1977 with Ohio Public Employees Retirement Systems, and later served as a portfolio manager at the Detroit office of Loomis, Sayles & Co., during which time they became the top ranking office in the company. He later served as president and chief investment officer of Dillon Capital Management, which was acquired by Loomis Sayles, where he worked until ultimately leaving to create Diamond Hill. Dillon explained that most of his success came from forgoing “easy” short-term success in the market and focusing on long-term, intrinsic value focused investments.

Part of that success was correctly evaluating companies after the dot-com bust and later the financial crisis of 2008. Dillon was smart enough to realize some of these companies had intrinsic value and would eventually bounce back.

This allowed Diamond Hill to see investment gains far above the market average of two percent.

Dillon also took questions from those in attendance, offering his opinions on the Dodd-Frank legislation or impending interest rate hikes.