Paul Cabot (1898–1994) was an innovative mutual fund manager and executive known for his strong character, charismatic personality, and trendsetting financial achievements. Iconoclastic and rebellious, Cabot broke free from the Boston Brahmin trustee mold to pursue new ways of investing and serving investment clients.
Cabot founded one of the first mutual fundsState Street Investment Corporationin the early 1920s, campaigned against the corrupt practices of certain other funds in the late 1920s, and lobbied on behalf of key New Deal securities legislation in the 1930s. As Harvard University treasurer, he increased the allocation of the endowment to equities just in time for the bull market of the 1950s, and as a corporate director in the 1960s he campaigned against conglomerates' abusive takeover strategies.
Having spent nearly two decades working for Cabot's company, State Street Research & Management, as an analyst, research director, portfolio manager, and chief investment officer, Michael R. Yogg is well positioned to share the secrets behind Cabot's extraordinary success and relate the life of an extraordinary man. Cabot pioneered the use of fundamental stock analysis and was likely the first to take up the progressive practice of interviewing company managements. His accomplishments all stemmed from his passion for facts, finance, and creative thinking, as well as his unbreakable will, facets Yogg illuminates through privileged access to Cabot's papers and a wealth of interviews.
About the Author
Michael R. Yogg, Ph.D., CFA, is trained as both a historian and investor. He holds three degrees in history from Yale University and Harvard University, and worked for more than three decades in the investment industry, including nearly two decades at State Street Research & Management and fifteen years at Putnam Investments.
John C. Bogle is founder of the Vanguard Group, which is currently the world's largest mutual fund company. As a bestselling author of ten books, most recently The Clash of the Cultures: Investment vs. Speculation, and a financial innovator, he is recognized as the leading advocate for the interests of mutual fund shareholders in the United States.
Table of Contents
Foreword, by John C. Bogle
Introduction: "That Passion for Reality"
1. Family, Education, and Army Service
2. The Twenties
3. The Crash, the Depression, and State Street's Response
4. The Revenue Act and the Investment Company Act
5. Moses and Jeremiah
6. Harvard's Treasurer
7. North Haven and Needham
8. Letting Go
Most Helpful Customer Reviews
This book has great info but it is hard to read. It has everything condensed into 8 chapters that go on forever. I would have liked shorter chapters with details of a character. The book also skipped back and forth in time. However, the one piece of advice on getting and using the facts is worth the read.