Growing Rich - Arabictrader.com

GROWING RICH WITH GROWTH STOCKS
“E. F. Hutton gave me a promotion,” Stovall says. “I went from being
a wire answerer and newsletter writer to a senior analyst in just three
years.” He also became a member of the New York Society of Security
Analysts. All of this good fortune set the stage for what would become
one of the best years of his life.
1957…A YEAR TO REMEMBER
The death of Stovall’s father in 1953 came as a devastating shock.
The two were very close, and his passing was completely unexpected.
“I admired him so much for what he had done,” Stovall explains. “He
managed to get himself off the farm and onto Wall Street, which was
an amazing accomplishment in those days. In his honor, I decided to
get an MBA. I figured he would be proud of that. I went to night
school at New York University’s Graduate School of Business.” Stovall
began his studies right after his dad’s passing in 1953 and graduated
in 1957.
“That same year, I was promoted to captain in the Army reserves
and made manager of E. F. Hutton’s research department,” he says.
“What’s more, my Danish in-laws finally accepted me as their sonin-law.
They took Inger and me to an international surgical conference
in Mexico. By that time, we had two sons, Sten and Sam. It was quite
a year.”
This last event may have been the most personally rewarding for
Stovall. His in-laws, who had not been happy about seeing their
daughter run off and marry an American, remained firm in their opposition,
only not in the traditional sense. For more than seven years,
they refused to speak to Stovall. That all changed in 1957. They flew
to New York for a visit and finally made amends. What’s more, 1957
saw Stovall’s wife regain her vigorous good health, lost after suffering
a medical setback and the death of an infant child.
INVESTMENT STRATEGISTS - THE UNTOLD STORY
The job of research director in the 1950s normally went to the best
writer and public speaker among the brokerage firm’s team of analysts.
This made sense, because the research director was required to constantly
communicate with both brokers and the press. “Back then,
they chose the research director like kids choose their football teams,”
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