PT  - JOURNAL ARTICLE
ED  - ,
TI  - The Smith Company
AID  - 10.3905/jpm.2001.81
DP  - 2001 Oct 31
TA  - The Journal of Portfolio Management
PG  - 81--87
VI  - 28
IP  - 1
4099  - https://pm-research.com/content/28/1/81.short
4100  - https://pm-research.com/content/28/1/81.full
AB  - The Smith Company is a private investment company whose primary investment objective is to provide an endowment-like stream of dividends to the members of the Smith family. The company invests primarily in publicly traded equities, although it also owns a few municipal bonds. The president's letter to shareholders for the year 2000 discusses the so-called Great Internet Bubble, the returns to growth and value stocks, the company's pre-tax equity track record since the family sold its operating businessin 1974, the dividend behavior of the S&P 500, and the misuse of corporate cash.