Growing Rich - Arabictrader.com

GROWING RICH WITH GROWTH STOCKS
fund because I was focused on following different kinds of stocks, I
called her. She saw it as a great opportunity as well,” he says.
KEEPING YOUR FOCUS
Maintaining your focus, in both life and investing, is something
Davis has always taken very seriously. It’s also a lesson he has passed
on to his six kids. He has three children from his first marriage, Andrew,
Christopher, and Victoria. Like his father, Davis let them work
for him during the summer. Unlike his dad, however, he offered them
a real incentive to perform. “They were all given a chance to go out
with me on many of the company meetings held in New York,” he
explains. “It’s like going to a lecture and hearing management tell its
story. After that, they would have to write up a one-page report, based
on a format I gave them. It was to include a few statistics, a description
of the company, a discussion of current operations, and its outlook
for the future. If they did the report, they would get $100. That
way, they could make as little or as much as they chose. I didn’t pay
them until they produced a report.”
VICTORIA DAVIS
Victoria really broke the bank. “She was writing five or six reports
a week,” Davis says. “Chris and Andrew did only two or three. But it
was a good introduction for them on how I go about looking at a
company. You hear their story and keep track of what happens. I remember
Victoria heard the president of MCI when the stock was
trading for around $3 or $4 a share. She told me to buy it. I eventually
did, but she got the first double. A lot of my kids bought stock with
the money they earned, and sometimes I would even match it.”
Ironically, Victoria, 31, is the only one of Davis’ three eldest children
not to enter the investment business. She’s a Harvard graduate
who is now attending Stanford Medical School. She plans to become
a general practitioner. His other two elder children, Andrew and Chris,
initially took different routes, but now have high-profile jobs at
Davis’s firm. “It was a big surprise that any of them came to work
for me,” he says. “I never really pushed it. When they were younger,
I used to tell them that it didn’t matter if they chose a different vocation
in life; it would still be valuable for them to know how to pick
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