General Investing >> Money Manager Interviews >> November 16, 1998

John K. Cabell – Usaa Investment Management

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
TWST: What is the value of co-managers for any fund, first of all?

Mr. Cabell: I think a co-manager structure adds value to the fund in

several ways. First, it combines our extensive and