The Investor’s Lie Detector with Susan Carnicero

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Justin Thomson - Head, Investment Institute and CIO
Susan Carnicero - Founding Partner, QVerity

Overview

In this episode of The Angle from T. Rowe Price, Justin Thomson, head of the T. Rowe Price Investment Institute, sits down with Susan Carnicero, a former CIA officer and expert in detecting deception.

Drawing on two decades at the CIA, Carnicero explains how investors can ask better questions, recognize evasiveness, and uncover information management teams may not readily volunteer. She explores how confirmation bias can distort judgment and why open-ended questions, well-timed follow-ups, and knowing when to pursue an answer can generate better insights.

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Important Information

This podcast episode was recorded in May 2026 and is for general information and educational purposes only. Outside the United States, it is for investment professional use only. It is not intended for use by persons in jurisdictions which prohibit or restrict distribution of the material herein.

The podcast does not give advice or recommendations of any nature; or constitute an offer or solicitation to sell or buy any security in any jurisdiction. Prospective investors should seek independent legal, financial, and tax advice before making any investment decision. Past performance is not a guarantee or a reliable indicator of future results. All investments are subject to risk, including the possible loss of principal.

Discussions relating to specific securities are informational only, are not recommendations, and may or may not have been held in any T. Rowe Price portfolio. There should be no assumption that the securities were or will be profitable. T. Rowe Price is not affiliated with any company discussed. However, T. Rowe Price portfolios may be passively invested in the company.

The views contained are those of the speakers as of the date of the recording and are subject to change without notice. These views may differ from those of other T. Rowe Price associates and/or affiliates. Information is from sources deemed reliable but not guaranteed.

T. Rowe Price Investment Services, Inc. ("TRPIS") is a broker-dealer registered with the SEC and Member SIPC. T. Rowe Price Associates, Inc. ("TRPA"), registered with the SEC, is investment adviser to T. Rowe Price strategies, ETFs and mutual funds. TRPIS and TRPA are subsidiaries of T. Rowe Price Group, Inc.

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T. Rowe Price

T. Rowe Price

T. Rowe Price is a global asset management firm founded in 1937, with USD $1.8 trillion¹ in assets under management and offices in 17 markets across four continents. Our investment philosophy is built on proprietary credit and equity research, disciplined risk management, and a collaborative, client-focused culture. We are dedicated to delivering investment excellence and tailored solutions for individuals, advisors, institutions, and retirement plan sponsors.

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