Founded the Pioneer Fund, then Fidelity Mutual Trust, in 1928, one of the first US mutual funds and among the oldest still running. Died in 1998, aged 101.
The Art of Speculation, published in 1930, made the case for buying securities on appraised value with a margin of safety two years before Graham and Dodd's Security Analysis, which places it at the start of the value tradition rather than downstream of it. A Money Mind at Ninety records the holding periods, position sizing and management assessments behind a record spanning the Depression and the post-war decades.
2 books of their own
Buying securities to profit from changes in value, with twelve commandments.
“The oldest book in my hall of fame is not The Intelligent Investor, but The Art of Speculation by Philip Carret. The book was published in 1930 and the best part in the book is the '12 Commandments'.” — Francois Rochon
Source: Rochon on the oldest book in his hall of fame
Recommended by: Francois Rochon, Mohnish Pabrai
A fund manager of sixty years on investing, business and a long life.
Recommended by: Mohnish Pabrai
The Art of Speculation | Buying securities to profit from changes in value, with twelve commandments. | 1930 | T2 | Francois Rochon, Mohnish Pabrai |
A Money Mind at Ninety | A fund manager of sixty years on investing, business and a long life. | 1995 | T2 | Mohnish Pabrai |
| Philip Carret, Money Manager, Dies at 101 Paywall | The New York Times | 1998 |
| Eyewitness to History Paywall | The Wall Street Journal | 1996 |
| Investing It; Patience? This Man Practically Invented It Paywall | The New York Times | 1995 |