Growing Rich - Arabictrader.com

GROWING RICH WITH GROWTH STOCKS
you the sense that Papp is personally writing these letters to you. You
get the feeling you could pick up the phone and say, “Roy, why did
you buy this stock or that stock?” and he would kindly give you a
detailed explanation. Changes are being made, however, as the amount
of money and number of fund shareholders explodes. What a difference
a few years can make, especially after you’ve garnered a good
amount of national media attention. In a letter to shareholders of the
America-Abroad Fund in January 1992, Papp boasted about how the
fund’s net assets for the year had risen to $1.37 million. Now it’s not
unusual for the fund to get close to $8 million in new assets in one
day.
LOVE OF WORK
When you look at Papp’s home, car, and lifestyle, it’s clear this
man doesn’t need to work for a living. He lives in a gorgeous penthouse,
complete with a great art collection and prints by artists from
Rembrandt to Renoir, drives around in a brand-new Lexus, and is a
regular at Phoenix’s premier country club. So why come into the office
everyday? Why not just stay at home and tend to his own substantial
personal portfolio? “Because I love the business I’m in,” he quickly
replies. “That’s why I didn’t get into politics when I had the opportunity
to do so. I like the challenge, and frankly I enjoy helping people.
I’ve been very lucky and feel I owe something to society. More important,
I have always worked with older people. I learned that once folks
retire and start playing golf, they stop at the nineteenth hole for a
drink. After awhile, many of them drink more often. Then they die.
I’ve decided to try and live longer. I stopped smoking my pipe. I exercise
three times a week. I’m happy with life. I find that by working,
I get more ambition and, I hope, will live longer.”
Papp has limited his outside activities somewhat. He’s no longer
on any corporate boards. He’s restricted his civic involvement to two
organizations, the Phoenix Art Museum and the prestigious Thunderbird
Graduate Business School, the only business school in the world
with campuses on three continents. He and his wife continue to collect
artwork from around the world, some of which is on display in their
home. The rest is loaned out to museums and shown around the world.
They have personally visited more than 250 museums around the
globe. Papp also enjoys traveling and playing bridge. “I have no plans
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