Buying A Bond.

CARRET, Philip L.

$5,200.00

Item Number: 3746

New York: Barron's, 1924.

First edition of the Wall Street legend’s rare first book. Octavo, original cloth. Signed by Philip Carret on the title page. Near fine in the rare dust jacket which is in very good condition with light wear. Housed in a custom half morocco clamshell box.

Philip L. Carret was an investor and founder (in 1928) of The Pioneer Fund (then: Fidelity Mutual Trust), one of the first Mutual Funds in the United States. A former Barron's reporter and WWI aviator Philip Carret launched the Mutual Trust in 1928 after managing money for his friends and family. The initial effort evolved into Pioneer Investments. He ran the fund for 55 years, during which an investment of $10,000 became $8 million. Warren Buffett said of him that he had "the best long term investment record of anyone I know" He is most famous for the long successful track record he achieved investing in Common Stocks and for being one of Warren Buffett's role models.