It’s likely you’re familiar with names such as Warren Buffett, Bill Gates and Steve Jobs.
They are the most successful investors and business people in the world. Investors follow their every move.
But I’ll bet you’ve never heard of Grace Groner. And that’s too bad because there is plenty to learn from this undercover master investor.
Grace was born in 1909 in a small lake-county, Illinois farming community.
After Grace and her twin sister Gladys were orphaned at the age of 12, they were taken in by George Anderson – a wealthy member of the community.
George paid for both sisters to attend Lake Forest College, where they graduated in 1931.
Grace eventually got a job as a secretary at Abbot Laboratories, where she worked for 43 years.
In 1935, Grace purchased three shares of Abbot Laboratories for $60 each for a total investment of $180.
Grace went on to live a quiet life. She lived in a small cottage that was willed to her and bought most of her clothes at rummage sales.
Over the years, Grace stayed close to Lake Forest College, donating $180,000 to establish a scholarship fund.
In 2008, Grace setup a foundation that would receive her estate upon her death.
In 2010, at the age of 101, Grace Groner passed away. This is the watershed moment that revealed a master investor.
Grace held onto her three shares of Abbot for the rest of her life – approximately 65 years and re invested all her dividends.
Shares had split so many times that when Grace passed away, she owned 100,000 shares worth more than $7 million. Since the mid 1970s, Abbott has doubled more tan 88 times. Take a look at the incredible chart below. And remember, Grace bought shares in 1935, 40 years before this chart even begins!
Grace left her $7 million estate to Lake Forest College to fund independent study, internships, international study and service projects. According to Wikipedia, upon hearing the news, college president Stephen D. Schutt is said to have exclaimed, “Oh, my God.”
Grace mastered the barrier of time. No matter what was happening in the world or stock market, she held onto her shares.
All the way through World War II, the Vietnam War. the oil embargo of the late 1970s, the stock market crash of 1987, the NASDAQ bubble of 2000, the New York City terror attacks in 2001 and the financial crisis in 2008.
That is an exercise in patience and discipline for modern investors who are overwhelmed with information from a 24-hour news cycle.
Investing Lesson: Time is an investors most valuable weapon.
Grace also mastered dividend re investment. That happens to be Insider Secret #4 – which I’ll be discussing in my next update. Go ahead and sign up.
In the meantime, i’d like to share some more tips how I can help you manage your portfolio – send me an email and let’s setup a time to talk.
Your Investment Partner,
Mike
