General Investing >> Money Manager Interviews >> March 27, 2000
JOHN K. CABELL is Co-Manager of USAA Investment Management Company's
Aggressive Growth Fund. In March 1995, he assumed management of the fund
with colleague Eric Efron. Since that time, the fund has grown to $800
million in assets from $280 million. In September 1995, Kiplinger's
Personal Finance Magazine highlighted the fund's three-year annualized
return of 27.2% ' 10 percentage points above the S&P 500 Stock Index.
Mr. Cabell and Mr. Efron are self-described 'Futurologists, and buy
stocks on cultural themes: changing lifestyles; efficiency;
telecommunications revolution; industry consolidation; new products and
services; and new computing. Mr. Cabell joined USAA IMCO in 1982 and
served as a Senior Securities Analyst until 1987. He rejoined the
company in 1993 in the same position and was named to his current
position in January 1995. He received his Bachelor's degree in 1976 and
his Master's degree in 1979, both from the University of Alabama in
Tuscaloosa and both in Economics. He was commended in 1978 by Omincron
Delta Epsilon, the Economics honor society. He is a member of the
Association for Investment Management and Research and the San Antonio
Financial Analysts Society, Inc. Profile
ERIC EFRON is Co-Manager of USAA Investment Management Company's
Aggressive Growth Fund. He joined USAA in March 1992 as a Senior
Equities Securities Analyst. In March 1995, he assumed management of the
fund with colleague John Cabell. Since then, the fund has grown to $800
million in assets from $280 million. Prior to joining USAA, Mr. Efron
worked as an Equities Analyst for several banks and brokerage
operations, including Citizens and Southen Bank, Interstate Securities
and Merrill Lynch. Mr. Efron is a 1969 graduate of Oberlin College in
Oberlin, Ohio with a Bachelor of Arts degree in English. In 1974, he
earned a Master's degree in Asian Studies from the University of
Michigan at Ann Arbor and he received a Master's of Business
Administration from New York University in 1979. He served in
Intelligence with the U.S. Army Reserves from 1969 to 1975. Currently,
he is a member of the Association for Investment Management and Research
and the San Antonio Financial Analysis Society, Inc. Profile
managers over the past year or so?
Mr. Efron: I think the world looks great through the eyes of aggressive
growth
