Here is the article with 10 minutes video. I like to spend some time on this article and video.
Risk averse, refugee mentality - I like to look into this topic.
McDevitt: Great. So you're the portfolio manager on Royce Special Equity, and one of the interesting things, I think, about your process and philosophy is you're very vigilant about debt, and companies that have large debt loads you tend to avoid. Tell us a bit about where that vigilance came from? What are the roots of that?
Dreifus: Well, it goes beyond debt, but I'll certainly discuss that. I got an award from my boss, Chuck Royce. It's a caricature of me wearing belts and suspenders. I'm that risk-averse. The origins, I can really trace to two influences. My parents were German refugees who came to the States in the late 1930s without anything. It was sort of a lifestyle. Another interviewer once said to me, "Charlie, you're so risk-averse. You have a refugee mentality." And while I was born here, I said, "Bingo, my parents were refugees." So that's something that I think people either have or don't have.
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