| OCR Text |
Show 10F Cluett Peabody (rumors are making the rounds that Cluett may be act quired by a French company), Mining and Heda Mining (comholdings), panies with precious-meta- l Jefferson Corp and Williams Indusrevetries (beneficiaries of gas-tanues to be used for rebuilding highways and bridges), Bank of New Tbe Salt Lake Tribune Sunday 5, 1985 ,Ma) New-mon- Dan Dorfman Market Whiz Going Strong at 88 ' x York, Green Mountain Power, Opto Methanik (which makes gun sights for tanks and armored cars, and Coleman Corp (maker of camping equipment) The obvious question Any thoughts I'll retire when the good of retiring Lord decides to retire me," Carrett SAVE MONEY Concern about the economy, the slumping dollar, and the budget deficit are enough to make any money manager think twice about hefty new commitments to the stock market But not Philip Carrett, one of the grand old men of investing At 88, hes off and running again, with a 1985 showing that is outpacing the market ' We're 100 percent invested because we see a lot of cheap stocks around," says Carrett ON OFFICE SUPPLIES and FURNITURE HON DESK - 85-8- 6 125,000 in 1937 and parlayed that capital into a personal net worth today of over $10 million Most of his success EXECUTIVE Pneumatic CHAIR K has come through adroit investing He is the president of Carrett 4 Co, a family-rustock-mark- York-base- Chair 26995 n New Reg. money manage- d Deposit $10,000 for one year' (earn 7 interest) and get 2 FREE season tickets to the Utah Jazz home games. peiii on tilt- draper started with Carrett means, fAl Foil we 3060 deok, cw mr d'dAfrr Ixks dll and foil SUS The son of a Boston lawyer of mod- est G says Its like $129 ment firm that supervises about $150 million of pension and private funds and family trusts Its focus is small and medium-sizeregional compainvestment ideas, he says, that nies we usually get from the boondocks, like Allentown, Pa , or Albuquerque, N.M , rarely from New York." In Carrett & Co.s first quarter this year, the average client was up 11 1 percent, compared to an 8 percent rise for Standard & Poors index The reason for the good showperforing strong first-quartmances by such stocks as Jefferson Corp., Northwest Natural Gas, Standard Register and Frischs Restaurants Consistency is a hallmark of Car-rett- s investment performance. Over the last 10 years, for example, his firm has grown at a compounded annual rate of 23 1 percent. This is more than 50 percent greater than the S&P index's annual advance of 13 in the same period. In eight of the last 10 years, Carrett's performance has topped the market, and last year the Carrett firm showed a 93 percent gain, compared to a 6.1 percent rise for the S&P index. In one respect, Carrett has slowed down. Two years ago, he retired from active management of Pioneer Fund, a family of mutual funds he started in Boston1928. These four publicly-owne-based funds manage about $4 bil- Compaie at $500 00 6995 d LIQUID PAPER maxell CORRECTION FLUID 59- 500-stoc- k Disks for your money - 'SuDCarti ji penjitv for e J' Bond white limit 1 doz. per customer SUPEROLLER 39 Dual Side REMEMBER WE WILL MEET OR BEAT ANY ADVERTISED PRICE 95 W Hon Sat. PRODUCTS FOR THE OFFICE" 487-981- J 4049 South Highland Drive Salt Lake City. Utah 84124 Telephone 57 West 200 South Salt Lake City, Utah 841C1 Telephone 801 4 801 328-888- 278-286- 1 8 2419 Wash. Blvd. Ogden 3 10-- w tl OnnhTLarryJiMilleLGroupIotCompanlefl of 10 HOURS: Inc . y Commerce Financial Dual Density $1I 095 Box Quality File by 1865 S. State, SLC getting 392-750- 3 ASHEfiFUE TUNE-U-P N0WCM PREVENT MMQR BREAKDOWNS LATER. lion. "I retired strictly on my own, he said "I always had more work than I knew what to do with. Carretts son, Gerard, executive vice president of Carrett & Co., says the only visible slowdown in his father is his reduced schedule. He now comes in to the office six days a week instead of seven. Generally bullish on the stock market and almost fully invested most of the time, Philip Carrett follows a number of trading strategies. Chief among them: (1) Look for low multiples (generally 7 or 9); (2) Look for substantial stock ownership by management. (We like the chief executive officer to own a years salary of his stock, says Carrett), (3) Stay diversified in case youre wrong; (4) Never borrow money (or use leverage) to buy a stock, because a falling market may force you to sell prematurely, and (5) Have the patience to stick with a stock for five years, if need be, because that is how the really big money in the market is made Two stocks in the company's portfolio have been there for more than 30 years Grief Brothers, a manufacturer of fiberboard drums, has risen after splits from about $1 to $23.50, and Great Lakes International, which dredges harbors, has gone from about $4 to $47 Despite the gains, Carrett maintains he has no plans to sell them Each still has a lot of potential," Carrett says, so why get rid of price-earnin- them'" These days, Carretts favorite stock is Magma Power Selling around $8, the company owns geothermal steam fields in California. Other current Carrett favorites Federal National Mortgage Association, f r See I TV Weekly Ad for FREE ! BROCHURES Cabin Kits from $7,500.00 ZSL. SilYcrwood Homes Custom HomesCobin Homos. Pork City, Ut. r FIRST SECURITY REALTORS i y Stn ur ty R t m to ,i uti ut f irst Sn unty Kink e Innhny tor AjH-nn lunnipl .lit'il Rtvii f st thn Rnsitlnntuil .nut 1 nnvnm ,,h A'tuis mdul iti w tutv Iht sin i nv. fu VvtiiK i 'iiwiPiH il t xtnnsiw tihnr Commnn Ml hY.il Cl ftnsu1nnli.il st.Fn or rchiUsl tmMs t his is ti nidi m (( poDun uMnnnp vh nor pioAth, ( h.ilhuyt1, ,nu hm1 m.il u w ini ,, iik hullin', tmnntit pu k.igf, within the t mill ut mm of Ut ill s mu1 sou nsuful and divfisif t ( you tunpo, iiul Mj Ml H u.stitut in'. vim ftM ty for this I nd coll Rh hard Pugh .it 350-524- 5 First Security Corporation An Opportunity Employ! MT f N At Humana MEDFIRST," we believe effective health care involves more than treating problems as they arise. In fact, early detection can often keep potential problems from becoming problems at all. Thats why we And why were offering a comprehensive off from May 1st to May 31st. cal at 50 when approThis exam includes a chest priate, plus electrocardiogram, urinalysis, blood count X-Ra- y and blood chemistry tests as well as pap smear for women. And its a great way to get acquainted with the quality doctors care at your neighborhood Humana MEDFIRST. Were open from 8am to 8 pm. 365 days a year. An appointment is necessary for this physical special. We accept cash, check and credit cards. So please make an appoint- meat. Ana get a healthy start on the rest of your life. Humana "pink 50 OFF COMPLETE PHYSICALS MIDVALE OREM 0047 South 900 East Midvale, UT 84047 1344 South 800 East Orem, UT 84057 566-720- 225-734- Tin ( )llu cdl Family ('arc Physic inns, Inc 3 T1k'OI!kci Liny 1 Km'ipcl MU l( OGDEN 447 12th Struct Ogden. UT 84401 TAYLORSVILLE 300 3355 0()7 OQ00 5500 S. Redwood Road Taylorsville, UT 84123 Ilk Oltkcn! I Km i;k I. M !(' li II, hi, |
