Voya Corporate Leaders Trust – The Virtue Of Sloth
November 11, 2019 Leave a comment
Ever wondered what might happen if you just bought some leading stocks,once only ,early in your life,and simply held onto them for a life-time ? Generally practiced sloth? Arousing yourself perhaps only if a company went bankrupt or stopped dividends ?
Then here is a story for you :
In 1935 Voya Corporate Leaders Trust bought the shares of the following then leading American Stocks:
- Allied Chemical & Dye
- American Can Company
- American Radiator & Standard Sanitary
- American Telephone & Telegraph
- Columbia Gas & Electric
- Consolidated Gas Company of New York
- I. DuPont de Nemours & Company
- Eastman Kodak Company
- W. Woolworth Company
- General Electric
- International Harvester
- National Biscuit
- Otis Elevator
- Pacific Gas & Electric Company
- Sears, Roebuck & Company
- Socony-Vacuum Oil Company
- Standard Oil Company (New Jersey)
- Standard Oil Company of California
- The American Tobacco Company
- The Atchison, Topeka & Santa Fe Railway
- The Borden Company
- The New York Central Railroad Company
- The North American Company
- The Pennsylvania Railroad Company
- The Procter & Gamble Company
- The United Gas Improvement Company
- Union Carbide & Carbon
- Union Pacific Railroad Company
- United States Steel
- Westinghouse Electric & Manufacturing
Eight decades later,they are left with the 23 scripts below:
- Ameren Corp.
- AT&T, Inc.
- Berkshire Hathaway, Inc. Class B
- CBS Corp. – Class B
- Chevron Corp.
- Comcast Corp. Class A
- Consolidated Edison, Inc.
- Corteva, Inc.
- Dow, Inc.
- DuPont, Inc.
- Exxon Mobil Corp.
- Foot Locker, Inc.
- Fortune Brands Home & Security, Inc.
- General Electric Co.
- Honeywell International, Inc.
- Linde Public Ltd.
- Marathon Oil Corp.
- Marathon Petroleum Corp.
- NiSource, Inc.
- Procter & Gamble Co.
- Union Pacific Corp.
- United States Treasury Bill
- Viacom, Inc. – Class B
The only common names in the 2 lists are Procter & Gamble, General Electric, Du Pont, and Union Pacific.The rest are from acquisitions,spin-offs and mergers.Some like the Pennsylvania Railroad Co. are gone.
So overall,not a bad portfolio at all.
Hyperactivity rather than sloth tends to be more destructive of wealth.