Skip to product information
1 of 1

Passion for Reality

Regular price $29.95
Regular price $29.95 Sale price $29.95
Sold out
The first biography of a major early-twentieth-century business leader and the historical and ethical implications of his work.
  • 18 February 2014
View Product Details

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 funds—State Street Investment Corporation—in 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.

files/i.png Icon
Price: $29.95
Pages: 296
Publisher: Columbia University Press
Imprint: Columbia Business School Publishing
Publication Date: 18 February 2014
Trim Size: 9.00 X 6.00 in
ISBN: 9780231167468
Format: Hardcover
BISACs: BUSINESS & ECONOMICS / Investments & Securities / Mutual Funds, BIOGRAPHY & AUTOBIOGRAPHY / Business, HISTORY / United States / 20th Century
REVIEWS Icon
Passion for Reality is an intelligent and well-written account of the career of an important figure in the formation of the modern investment management business.Financial Analysts Journal

Foreword, by John C. Bogle
Acknowledgments
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
Epilogue
Notes
Index