(4 Total References)
"The Prairie Fund" Mutual Fund, The Fund History
Matthew Zuckerman, president of Zuckerman Management Associates Inc., the fund investment advisor, was always led to believe that a consistent plan of investment over a long period of time would result in the building of a considerable estate.Fortunately his wife had a similar background, and with this mutual mindset, as each of their grandchildren were born, they would establish a trust for the new child.They funded each trust with a gift of ten thousand dollars, and over the next several years continued to add to each trust to the total amount of between $15,000 to $25,000.The funds were then invested in common stocks, and as funds became available within the trusts from dividends, the income was invested in more shares.
As time passed, the investments created fourteen different portfolios (one for each grandchild), with the older children obviously having more in their accounts than the younger children.However, as the time continued and the portfolios grew, Mr. Zuckerman
began to see an element of inequity within the portfolios that he
did not want.Not only did the older children have more in their portfolios, (that was simply a function of their age), but the inequity was that the rate of growth in the portfolios of the older children was greater than the rate of growth in the portfolios of the younger children, and growing.
The solution to Mr. Zuckerman's
problem was to combine the fourteen portfolios into one, giving each grandchild participation in the combined fund proportional to each one's contribution to the combined fund.
"The Prairie Fund" Mutual Fund, Board of Trustees
MATTHEW M. ZUCKERMAN Chairman of the Board of Trustees & President of the Fund since 2000
"The Prairie Fund" Mutual Fund, The Fund Manager
The investment advisor of the Prairie Fund, Dr. Matthew M. Zuckerman has a long history of successful investment management.His knowledge of securities and the market for them derives from several diverse sources, both hands-on and theoretical.His first serious transaction was an arbitrage involving warrants of a Canadian mining company and occupied the span of two weeks.The result was a very large gain.Subsequent investing activities, following the policies set forth by those sterling fund managers, his mother and his mother's brother, the Doctor, resulted in an accumulation of wealth that financed the start of Dr. Zuckerman's dental practice.
Dissatisfied with the haphazard methods of investing that had practiced, Dr. Zuckerman
studied the text by Benjamin Graham, "Security Analysis" about which Warren Buffett said (and I paraphrase):
...A correspondence course in accounting helped to sharpen Dr. Zuckerman's ability to read and understand balance sheets and financials and his ability to make knowledgeable investment decisions, and over time, Dr. Zuckerman became the investment manager for wife, daughters, and grandchildren.
began, the total value of the accounts under his
management increased from approximately $300.000 (cash used to initiate the portfolios) to nearly $6,000,000, denoting an average annual growth of over 15%.
In 1998 Dr. Zuckerman
, A Registered Advisor which he
now maintains as his
Matthew M. ...
Matthew M. ZuckermanZuckerman Management Associates