Word: carres
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...relatively small mutual fund last year put some of the East's established giants to shame. Enterprise Fund of Los Angeles registered a 116.9% gain in net assets. Among the 20 best mutual-fund per formers for five years, Enterprise really started moving when soft-spoken Fred Carr, 36, took over its management in October 1966: under his guidance, the fund's assets have increased from less than $20 million to $250 million, and the value of a share has jumped from $3.77 to over...
...Carr works with only one assistant, a secretary, and the informal counsel of a group of young investment analysts whom he calls his "dirty dozen." He specializes in ferreting out what he calls "emerging growth companies," and he puts most of his fund's money into little-known firms with untapped market potential. Over a third of the companies on Enterprise's list are still traded over the counter. When he cases a situation, Carr looks for two things: proven, imaginative management and a low price-earnings ratio. That way he is likely to catch a star...
...Fried Computers. So far, at least, the Carr formula seems to work. Tonka Toys, which he picked up for about $14 a share a year ago, is now being quoted at twice that amount. Another winner, Kentucky Fried Chicken, was acquired by the fund at about $7 per share; it is now selling in the $50s. "We took a lot of ribbing, especially from the East Coast, for adding something called Kentucky Fried Chicken to our portfolio," says Carr. "Had it been called Kentucky Fried Computers it would probably be selling now for 180 times earnings...
...found a champion in James Biddle, 38, new president of the National Trust for Historic Preservation, whose office receives up to 15 "major" requests for help each week. They come from adversaries of imminent threats, such as a freeway that would desecrate the waterfront of New Orleans' Vieux Carré, and advocates of quixotic quests, such as preserving the Warrensburg, Mo., courthouse, where in 1870 George Graham Vest voiced his Eulogy...
...seven seconds later, the score was even again as Bob Carr slapped the puck into the Clarkson end. The puck ricocheted off the boards, eluded Miller, and gave Jack Turco a delicious setup at 18:47. Then, with only 18 seconds left in the period, Bobby Bauer's perfect pass allowed Garrity to put Harvard in front...