Meet Ten Investing Masters
Philip Carret: The Pioneer

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Meet Ten Investing Masters

Over the years I've made a practice of studying the masters in the history of the stock market. Few have influenced me as much as Phil Carret. Here's an investor who began on Wall Street in the 1920s and worked there for 75 years. For those who don't know him, Carret started one of the first mutual funds in history, The Pioneer Fund. He ran it successfully through a major depression, two world wars, and a host of recessions. Started in 1928, The Pioneer Fund is up about 450-fold.

Carret was a close friend of Warren Buffett's father and a man Buffett deemed a personal hero at one of his Berkshire annual meetings. I highly recommend Carret's two books, The Art of Speculation and The Money Mind at Ninety. An historical reference from a person whose career spanned the entire 20th century, the latter is a real treat.

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