I started with Wheat, First Securities, Inc, January 2, 1978- one of the largest regional brokerage firms in the country. I had the opportunity to learn about technical analysis as Tom Dorsey, Watson Wright and Art Huprich shared their research at our firm. I still have a copy of their advice based on the charts to stay away from Enron ( despite many high-profile research firms pounding the table to buy Enron on the pullback). That got my attention.
My professor at the University of North Carolina – Chapel Hill taught me how to read the WSJ in 10 minutes and I am still using that lesson and finding “gems” which aid in investment purchases and sells.
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It is so important to have “ religion in the rapids” as outlined by Tom Dorsey- kayaking through rapids – navigating life and financial decisions through turbulent waters. Your instincts might tell you to stop paddling when the best approach is to keep paddling- and to “paddle away” from the rocks in the river like Enron. Another real life example- February 2009- the bottom of the 2008-2009 lending crisis was March. My instincts were high level fear- I literally held my head and thought “ either everyone will be poor, or our country and economic engine will come out of this death spiral rapidly. So, I got my clients out of mutual funds and “baskets of investments” and bought individual companies I had the most confidence in and I believe it worked well.
My start at Wheat, First Securities, Inc. taught me the importance of having a mentor. Mine was Bill Slaughter- a brilliant analyst who took the time to tutor me. He was the first call I made during the stock market turbulence- always calm and wise- a certified financial analyst and a respected money manager willing to share his insights through the years. Bill’s advice in the ‘whitewater rapids” of the early 1980’s when Joe Granville warned investors to sell everything, Bill advised- put 1/3rd of investable assets in the market, if it goes down add the next 1/3rd to the market and wait for the market to go higher before adding the last 1/3rd. While Joe Granville missed one of the greatest bull markets which began in 1982, Bill Slaughter did not.
How did I get into this business?
My grandfather, Grady Wilmoth, grew up on a farm. He never got a college degree but he ended up in charge of investments and lending for an insurance company, Security Life and Trust in Winston- Salem, NC. In that capacity, he worked closely with Carl Buchanan, early visionary of Lowe’s and Vernon Rudolph, founder of Krispy Kreme donuts.
My father, John Cates, was a small business owner who started Chapel Hill Realty. My mother, Anne Cates, was the first and so far only woman chairman of the Board of Trustees at the University of North Carolina- Chapel Hill. She started her volunteer career with the university by offering to help with anything needed including sweeping the floors.
From all this, I learned that financial strategy is critical whether you are starting or growing a company, running a university, or managing assets to fund hopes and dreams to enjoy a productive life. Studies show that financially healthy people have more success at work and at home.
I received a B.S. in Business from the University of North Carolina- Chapel Hill after going my first two years to Gettysburg College- I do love history. And my independence of thought, to a great extent, was molded at a girl’s school in Chatham, Virginia – Chatham Hall.
My husband, Clyde, and I have been married 45 years. He is a graduate of Hampden- Sydney College and served as a minister prior to his retirement. We have 3 children- Parker Bowie Larson ( Scott Larson), Anne Bowie Tew ( William Tew), and C. Findley Bowie, III and 7 grandchildren- they will keep us young!
I believe the art of strategy is so important to achieving a desired outcome. Strategy works best when assisted by others…
Helpful to my investment strategies is a love of history. I do believe the knowledge of the past gives faith in the future. I enjoy exploring history through books and travel
And as a Bowie ( yes- husband Clyde is related to Jim Bowie)- please do “ Remember the Alamo!”
And I love everything about the game of tennis! As Billy Jean King said, “ Pressure is a privilege” and a good reminder during periods of down drafts in the markets and in life. “The Inner Game of Tennis- The Classic Guide to the Mental Side of Peak Performance” written by W. Timothy Gallwey- managing your mental thoughts during the pressures of a match helps harness thoughts on the court and when hearing the noise of the news which can harm your financial decisions. The use of patience and placement on the court to defeat power, and remembering different court surfaces and environments call for different tactics- also helps with financial planning.
Strategy also went into my juggling work, family and athletic schedules. Off and on for 30 years, I used a “cooking co-op” approach to coordinating home-cooked meals on a weekly basis. Bankrate.com published an article, “Cash-Saving Strategies that Pay Big Bucks” in which the #1 way to save a large amount of money for the average family discusses my cooking co-op ideas.
Thoughts on aging…
1) “Never retire. If you work forever, you can live forever. I know there is an abundance of biological evidence against this theory, but I’m going with it anyway.” Blackstone’s Byron Wien – Lessons learned in his first 80 years ( He lived to be 90)
2) At age 71, Michelangelo was appointed architect of St. Peter’s – he was just entering the busiest and most creative time of his life and 52 years after he completed the Sistine Chapel.
3). “To serve is to live” Frances Hesselbein – Business woman, devotee of Peter Drucker (She lived to be 107)
