Philip L. Carret
Creator of one of world's first mutual fund, the Pioneer Fund.
Philip Carret was a graduate of Harvard College and Harvard Business School. In 1928 he started the Pioneer Fund which he ran for 55 years, during which an investment of $10,000 became $8 million.
As a Wall Street icon who pioneered the concept of "value investing," Philip Carret introduced it four years prior to the publication of Security Analysis by Benjamin Graham (Warren Buffet's mentor) and David Dodd. Carret further described the concept in his 1930 book, The Art of Speculation.
In 1963 Carret Asset Management was founded as a family office and provided investment services for institutional clients and high net worth families.
Warren Buffet said of Philip Carret that he had "the best long term investment record of anyone I know." He is most famous for the long successful track record he achieved investing in common stocks and for being one of Warren Buffett's role models.
Today, Phillip Carret’s investing approach is still the centerpiece of our investment philosophy. Carret personally experienced 31 bull markets, 30 bear markets, 20 recessions as well as the Great Depression.