129773160496406250_115YINHUA Fund/text from their own funds to the death in 1998 of creation in 1928
diablo 3 power leveling, Philip carret (Philip Carret) in the investment industry for 70 years in the game, he founded the pioneer Fund was Harold Bogle makes went on to become world famous pioneer group, he is "gushen" Buffett's best friend, and was latter considered to be "the real long-term investors”。
If you invested $ 10,000 in the early establishment of an investor in the Fund, when they retire to the 1983 Carette
tera gold, the investment of more than $ 8 million. Philip carret was born in 1896, is the only son in the family. Aged 21, he graduated in chemistry from Harvard University, then served briefly, bond brokers, journalists, researchers, and so many differentCareer. In May 1928, the Carette founded the pioneer Fund
swtor credits, the size of only $ 25,000, the shareholders are their own family or friends. For over half a century later the time, Carette had been personally manages the Fund, even if at a later stage, whose size is more than 225 million dollars, his staff would only have two sons and a granddaughter, and a few employeesMember. Carette pioneer Fund at the beginning of some "untimely", the stock market crash of 1929 brought to the capital markets and the economy a heavy blow, the Dow Jones industrial average until 25 before returning to the levels of before the stock market crash. Fund was established in the early of the stock market crash that Carette left, however, began in the mid 30 Carette after retirement, he has been10% more long-term investment performance.
In the 55 years of its management of the Fund, whose annual compound rate of return of 13%. Summarize the investment characteristics of Carette, said Buffett had a lot in common: he likes to concentrate ownership has never held more than ten kinds of stock, covering not more than five, loyalty, he stated that "the changing hands often means that judgment wrongFalse positives. Know when to sell stock was extremely difficult ".
He advocated investment in each stock should not exceed the total amount of one-fourth, and half of the investment is the best short-term bonds to lower funding liquidity risk. He said: "I like trading stocks on the over-the-counter market. However, I am conservative than most people. Many people consider ' conservative ' meansSuch as General Electric, IBM, but I select the shares that are not very popular. Over-the-counter market transactions of stock not traded on the New York Stock Exchange stocks less vulnerable to manipulation, not under the influence of mass psychology. "Like lost shares that point, both have striking similarities, Carette and friendship lasted more than half a century of BuffettLong, Buffett once disbanded when their funds, recommend to the shareholders is the successor of Carette. In 1963, the Carette shares to sell most of the pioneer Fund, retaining only a small part. Carret Company he founded his own investment company, specifically designed for large institutions and individuals manage assets until he retired at the age of 87.In addition to investment, Carette only hobby is to observe the solar eclipse, he has visited more than 100 countries, travel around the world 11 times, see 19 solar eclipse.
In 1998, the Carette died in New York, at the age of 101. Online statement Gold: gold online reprint of the above content, does not indicate that confirm the description, for investors ' reference only and does not constitute investment advice. InvestmentOperation at your own risk.
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