Paul Codman Codman Cabot

Background

A Boston Brahmin and a member of the Cabot family, Cabot was born in Brookline, Massachusetts. His father, Henry Bromfield Cabot, was a lawyer and investor.

Education

Bachelor of Arts, Harvard University, 1921; Master of Business Administration with distinction, Harvard University, 1923; Doctor of Laws, Harvard University, 1966; Doctor of Laws, Yale University, 1965.

Career

He served as chief executive and chairman of the State Street Investment Corporation. He was also treasurer of Harvard University. In 1924 he formed the State Street Investment Corporation. which was the second open-end mutual fund legally incorporated but the first to operate.

He was one of the first practitioners of fundamental equity research including on-site management interviews and also among the first to favor the price-earnings ratio in his valuation work over dividend yield.

These innovations contributed to outstanding investment performance for decades. During the 1920s he uncovered the unethical practices of certain other funds.

Due to the fame this gained him he was able to influence important New Deal securities legislation such as the Revenue Acting of 1936 and the Investment Company Acting of 1940. He was treasurer of Harvard University between 1948 and 1965, during which period the university"s endowment grew from $177 million to over $1 billion.

He retired as chief executive of State Street in 1958, although he retained his position as chairman.

Achievements

• Paul Codman Cabot has been listed as a noteworthy investment company executive by Marquis Who's Who.

Membership

Served to Second lieutenant artillery United States Army, World War-I. Served with War Production Board, World World War World War II. Member Business Council Clubs: Harvard (Boston).

Porcellian (Cambridge). Dedham Country and Polo (Massachusetts).

Connections

Married Virginia Converse, September 20, 1924. Children: Virginia Wood, Elizabeth Minot, Paul C., Frederick C., Edmund C.

Father:

Henry B. Cabot

Mother:

Anne M. (Codman) Cabot

Spouse:

Virginia Converse

child:

Edmund C. Cabot

child:

Paul C. Cabot

child:

Frederick C. Cabot

child:

Virginia Wood Cabot

child:

Elizabeth Minot Cabot