Growing Rich - Arabictrader.com

GROWING RICH WITH GROWTH STOCKS
world in every room. The place has a decidedly Asian theme, complete
with two real-life Siamese cats roaming around from room to room.
Papp has also amassed one of the world’s largest private art collections
from China’s Ming and Qing dynasties. If you desire something else
to look at, you need merely gaze out one of the apartment’s many
windows, which offer a 360-degree view of Phoenix, from the airport
and downtown to Camelback mountain and the surrounding hillside.
MOVING ON UP
This boy from New Jersey has clearly come a long way. He readily
admits, “God has been good to me.” When Papp graduated from
Trenton Central High School in June 1945, he was supposed to attend
the Massachusetts Institute of Technology to pursue a degree in engineering.
That was a little more than a month before the end of
World War II, and the Army decided it needed him even more. When
Papp finished his 18-month tour of duty, he decided to go to Brown
University instead of MIT. “After two years of undergraduate work,
I took my first real course in engineering,” he recalls. “I found out a
third of the class got an A, B, or C. A third of the class got a D. The
rest got an E (the equivalent of an F). I got a D. The school didn’t
have enough facilities for all of those who wanted to study engineering,
so they encouraged people like me to change their majors.”
He opted to go into economics instead and loved it. After completing
his studies, Papp went on to the Wharton Graduate School at the
University of Pennsylvania. By then he was married to his wife,
Marilyn, whom he met during summer school at the University of
Wisconsin in Madison. The head of Wharton’s finance department
encouraged Papp to accept a job at the investment firm Stein Roe &
Farnham in Chicago, and he agreed. While Papp wasn’t specifically
preparing for a career in money management when he first went to
college, his love affair with stocks actually began in high school.
Papp’s parents, who were both immigrants from Hungary, knew
little about Wall Street. His dad, who died when Papp was 18, had
several different businesses, including a golf bag manufacturing
company and a restaurant. He started them during the Depression,
and none were very successful. Papp’s mom, a housewife, was much
more scholarly. She encouraged both Papp and his older sister to get
a good education. By the time Papp was a teenager, he figured out
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