Growing Rich - Arabictrader.com

More documents

Recommendations

Info

GROWING RICH WITH GROWTH STOCKS NOT SELLING OUT As this book went to press, one of Yacktman’s top holdings was United Asset Management, a conglomerate of 49 money-management firms around the world. UAM is famous for buying up small boutique investment firms, such as Yacktman Asset Management, allowing them to maintain their independence and giving them marketing incentives. Yacktman admits UAM has talked with him about selling out, but maintains he’s not interested. “I wouldn’t consider it for two reasons,” he shares. “One is the autonomy issue. Even though UAM’s current management does give each firm a great deal of independence, who’s to say that won’t change in the future? I’ve been through that before with my previous employers. The second thing is I’ve already got the next generation in place here. One of the reasons people are willing to sell out is to capture all of the value they’ve created for their estate over the years. In my life, money is not nearly as important as autonomy. I think the same will be true for my son Stephen and everyone else who’s here. If I were going to drop out of the business and had no children who were going to come work here, selling out would be a wonderful way for me to capture all of the value I’ve put together throughout my life. But that’s not my situation.” HAVING FUN Away from the office, Yacktman enjoys taking a rare spin on his 17-foot powerboat and remains active in the Mormon Church. “I have a great assignment now,” he says enthusiastically. “I was a bishop for five years and have served on what’s known as the high council since 1985. Now I’m what’s called a young men’s president. My responsibility is to oversee the young men’s program, which is for 12 to 18 year olds. Specifically, I work with the 16 to 18 year olds in the local church and teach them on Sunday. I have had two of my own boys with me in the room. The rest of the kids in the class have become like sons as well.” Another of his favorite pastimes is reading the biographies of great people. He’s constantly trying to uncover the secrets to what makes them tick. “I think the person who has had the biggest influence on my investing life, even though I have never met him, is Warren Buffett,” Yacktman reveals. “Buffett isn’t really a portfolio manager. He’s 45
KIRK KAZANJIAN a businessman who often buys pieces of companies through the stock market. That’s because the businesses may either not be for sale outright or he finds their stock to be extremely undervalued. I think conceptually Buffett really understands what a good business is. Too many people separate the price of a business in the stock market from what it would sell for in the private market. That’s a mistake. When you see how much some of these companies are trading for in the stock market today, you can only conclude that it’s ludicrous. Buffett knows how to do it right. Most investors don’t.” DONALD YACKTMAN’S top 10 GROWTH STOCKS FOR THE 21ST CENTURY 1. Philip Morris 2. First Data 3. Franklin Covey 4. Department 56 5. United Asset Management 6. Intimate Brands 7. Luxottica Group 8. First Health 9. Jostens 10. Dentsply 46
Page 2 and 3:
Growing Rich with GROWTH STOCKS WAL
Page 4 and 5:
To my mom, Linda Kazanjian, with th
Page 6:
Contents Foreword by Don Phillips I
Page 9 and 10: KIRK KAZANJIAN any investor looking
Page 11 and 12: KIRK KAZANJIAN panies for his or he
Page 13 and 14: KIRK KAZANJIAN growth stocks for th
Page 15 and 16: KIRK KAZANJIAN conversation about t
Page 17 and 18: KIRK KAZANJIAN small stocks that we
Page 19 and 20: KIRK KAZANJIAN continued to forecas
Page 21 and 22: KIRK KAZANJIAN WILL THE REAL MARKET
Page 23 and 24: KIRK KAZANJIAN NEVER FORGET WHAT’
Page 25 and 26: KIRK KAZANJIAN goes up significantl
Page 27 and 28: KIRK KAZANJIAN Stanley before. It
Page 29 and 30: KIRK KAZANJIAN the short-term. In m
Page 31 and 32: KIRK KAZANJIAN STAY PUT AND IN THE
Page 33 and 34: KIRK KAZANJIAN man doubts Victor ev
Page 35 and 36: KIRK KAZANJIAN to see how they are
Page 37 and 38: KIRK KAZANJIAN college, both in Uta
Page 39 and 40: KIRK KAZANJIAN Merrill Lynch office
Page 41 and 42: KIRK KAZANJIAN Students at the Harv
Page 43 and 44: KIRK KAZANJIAN selling at a depress
Page 45 and 46: KIRK KAZANJIAN my ten-year goal was
Page 47 and 48: KIRK KAZANJIAN frustrated. I told K
Page 49 and 50: KIRK KAZANJIAN THE YACKTMAN FUND Wi
Page 51 and 52: KIRK KAZANJIAN THE SUCCESS OF SUNST
Page 53 and 54: KIRK KAZANJIAN to let only a handfu
Page 55 and 56: KIRK KAZANJIAN sure there were peop
Page 57: KIRK KAZANJIAN A TRIANGULAR APPROAC
Page 61 and 62: KIRK KAZANJIAN worst and most medio
Page 63 and 64: KIRK KAZANJIAN that have low asset
Page 65 and 66: KIRK KAZANJIAN small-cap issues, th
Page 67 and 68: KIRK KAZANJIAN for them,” he says
Page 69 and 70: KIRK KAZANJIAN IGNORE BOOK VALUE Bo
Page 71 and 72: KIRK KAZANJIAN good, as opposed to
Page 73 and 74: KIRK KAZANJIAN each stock’s price
Page 75 and 76: KIRK KAZANJIAN companies are sure t
Page 77 and 78: KIRK KAZANJIAN INTERESTING IDEAS FR
Page 79 and 80: KIRK KAZANJIAN LOOKING FROM THE TOP
Page 81 and 82: KIRK KAZANJIAN once underfollowed,
Page 83 and 84: ONE-ON-ONE ROBERT H. STOVALL Robert
Page 85 and 86: KIRK KAZANJIAN band, sing in the gl
Page 87 and 88: KIRK KAZANJIAN magnate Joseph Whart
Page 89 and 90: KIRK KAZANJIAN THE SEARCH FOR WORK
Page 91 and 92: KIRK KAZANJIAN research manager was
Page 93 and 94: KIRK KAZANJIAN Stovall claims. “T
Page 95 and 96: KIRK KAZANJIAN Oppenheimer as a “
Page 97 and 98: KIRK KAZANJIAN adequate quality rat
Page 99 and 100: KIRK KAZANJIAN Review, which airs r
Page 101 and 102: KIRK KAZANJIAN Of all the financial
Page 103 and 104: KIRK KAZANJIAN WALL STREET’S UNIO
Page 105 and 106: KIRK KAZANJIAN compound returns was
Page 107 and 108: Rule 5 GET TO KNOW YOUR PARTNERS Al
Page 109 and 110:
KIRK KAZANJIAN Then, like now, I di
Page 111 and 112:
KIRK KAZANJIAN for interviews with
Page 113 and 114:
KIRK KAZANJIAN ing shares, repaying
Page 115 and 116:
KIRK KAZANJIAN involved with top ma
Page 117 and 118:
KIRK KAZANJIAN shopping district, i
Page 119 and 120:
Rule 6 AVOID UNNECESSARY RISK This
Page 121 and 122:
KIRK KAZANJIAN You’ve lost 25 per
Page 123 and 124:
KIRK KAZANJIAN percent of sales on
Page 125 and 126:
KIRK KAZANJIAN An investment Davis
Page 127 and 128:
KIRK KAZANJIAN tential, even if tha
Page 129 and 130:
KIRK KAZANJIAN research in anticipa
Page 131 and 132:
KIRK KAZANJIAN railroads, utilities
Page 133 and 134:
KIRK KAZANJIAN YIELDING TO THE BOND
Page 135 and 136:
KIRK KAZANJIAN free coupon rate is
Page 137 and 138:
KIRK KAZANJIAN He wrote four books
Page 139 and 140:
KIRK KAZANJIAN property and casualt
Page 141 and 142:
KIRK KAZANJIAN Moore Cullom Davis,
Page 143 and 144:
KIRK KAZANJIAN wouldn’t have paid
Page 145 and 146:
KIRK KAZANJIAN planned to launch ca
Page 147 and 148:
KIRK KAZANJIAN GROWING HIS FIRM Whe
Page 149 and 150:
KIRK KAZANJIAN stocks, since it cou
Page 151 and 152:
KIRK KAZANJIAN look over. He also w
Page 153 and 154:
KIRK KAZANJIAN overlooks the Statue
Page 155 and 156:
KIRK KAZANJIAN people and bet on th
Page 157 and 158:
KIRK KAZANJIAN SHELBY DAVIS’S top
Page 159 and 160:
KIRK KAZANJIAN untried financial sy
Page 161 and 162:
KIRK KAZANJIAN buys, Papp didn’t
Page 163 and 164:
KIRK KAZANJIAN AMERICA: THE WAL-MAR
Page 165 and 166:
KIRK KAZANJIAN GLOBALIZATION: THE W
Page 167 and 168:
KIRK KAZANJIAN return businesses an
Page 169 and 170:
Rule 8 BE WILLING TO CHANGE Roy Pap
Page 171 and 172:
KIRK KAZANJIAN at yesterday’s sal
Page 173 and 174:
KIRK KAZANJIAN SHATTERING OLD MYTHS
Page 175 and 176:
KIRK KAZANJIAN Papp considers many
Page 177 and 178:
Rule 9 NEVER UNDERESTIMATE THE POWE
Page 179 and 180:
KIRK KAZANJIAN be increasingly impo
Page 181 and 182:
KIRK KAZANJIAN you’re out of the
Page 183 and 184:
ONE-ON-ONE L. ROY PAPP When I told
Page 185 and 186:
KIRK KAZANJIAN that if he wanted to
Page 187 and 188:
KIRK KAZANJIAN called me in and sai
Page 189 and 190:
KIRK KAZANJIAN steel, and cement co
Page 191 and 192:
KIRK KAZANJIAN 33 percent of the vo
Page 193 and 194:
KIRK KAZANJIAN boards of directors,
Page 195 and 196:
KIRK KAZANJIAN records. But when I
Page 197 and 198:
KIRK KAZANJIAN to retire until my m
Page 199 and 200:
KIRK KAZANJIAN period, along with w
Page 201 and 202:
KIRK KAZANJIAN I never blindly trus
Page 203 and 204:
KIRK KAZANJIAN in the future. “As
Page 205 and 206:
KIRK KAZANJIAN It was like buying a
Page 207 and 208:
KIRK KAZANJIAN companies in the sam
Page 209 and 210:
Rule 11 DON’T SPREAD YOURSELF TOO
Page 211 and 212:
KIRK KAZANJIAN volatility is of con
Page 213 and 214:
KIRK KAZANJIAN Stovall notes that d
Page 215 and 216:
KIRK KAZANJIAN “I’ll give you a
Page 217 and 218:
KIRK KAZANJIAN the market averages
Page 219 and 220:
ONE-ONE-ONE ELIZABETH R. BRAMWELL W
Page 221 and 222:
KIRK KAZANJIAN of a class of around
Page 223 and 224:
KIRK KAZANJIAN railroads to photogr
Page 225 and 226:
KIRK KAZANJIAN until it had 1,000 s
Page 227 and 228:
KIRK KAZANJIAN firm, Bramwell Capit
Page 229 and 230:
KIRK KAZANJIAN Growth in the Bramwe
Page 231 and 232:
KIRK KAZANJIAN thumbed through the
show all

Growing Rich - Arabictrader.com

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?