As promised recently we are updating/cleaning the investor resource pages on a regular basis. This week we’ve added several new legendary investors to our resource archives. Earlier in the week we added Henry Singleton, Shelby Davis, Tom Knapp and Ed Anderson and now we have included resource page devoted to Phil Carret.
Below is a partial excerpt from Phil Carret’s resource page followed by link to the full page, which can also be found under Value Investors tab above.
Phil Carret resource page
Philip L. Carret started one of the world’s first mutual funds and his investment career spanned eight decades, encompassing dozens of cycles of bull and bear markets. He died at the end of May 1998. He was 101.
Carret was known as a long time value investor. For over 55 years he managed the Pioneer Fund, a mutual fund he founded in 1928. The initial idea for a fund of pooled investments came while he was working as a financial reporter at the Boston News Bureau. The news bureau’s publisher, Clarence W. Barron, later lent his name to the financial weekly Barron’s, where Carret also worked for a time.
With an initial bank roll of $25,000, from friends and family, Carret set out managing money. Unfortunately, 1928 turned out to be one of the worst possible times in history to start a new fund as the market crash and subsequent depression inflicted heavy losses. Nevertheless, from the mid-1930’s through his retirement as its manager in 1983, Mr. Carret led the Pioneer Fund to some of the best long-term returns in the fund industry.
See the full page here Carret Resource Page