John K. Cabell

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.