Our Founder

The Legacy of Philip L. Carret

Our firm was founded in 1963 by investment legend Philip L. Carret.

Mr. Carret, who lived to be more than 101 years old, was born in the same year as the Dow Jones Industrial Average began and personally experienced 31 bull markets, 30 bear markets, 20 recessions and the Great Depression. He graduated from Harvard College in 1917, attended Harvard Business School, flew a British fighter plane over France at the end of World War I and was widely known for his keen intellect, warm smile and long-term investment results.

By applying his disciplined approach to investing, Mr. Carret was described by Warren Buffett – the esteemed CEO of Berkshire Hathaway – for having established "the best long-term investment record of anyone in America." Mr. Carret pioneered the concept of "value investing" in 1927. The next year he created one of the world’s first mutual funds, the Pioneer Fund, which he managed with tremendous success for more than a half century. Mr. Carret’s approach to investing – still widely embraced by countless professionals – focused on companies with consistent earnings growth and dedicated management teams.

In essence, Philip Carret kept it simple, all the while building a preeminent firm and investment history that remains the envy of many to this day.