Knut Langballe came to North America by airplane. But a Tesla helped him return to his native Norway.
Born and raised in Norway, Langballe moved to British Columbia in the 1970s. He worked in Canada as a civil engineer until he retired in the mid-1990s. In retirement, he got heavily into investing, and one of his biggest investment successes was Tesla (TSLA), a stock he bought early on the recommendation of Tim Lutts, president of Cabot Wealth Network and chief analyst of our Cabot Stock of the Week investment advisory. On Tim’s December 2011 recommendation, Langballe turned a modest investment into a $1 million return. Langballe used his TSLA stock profits to buy his dream house in Norway.
Langballe, now 77, told me this story while sipping rosé wine from a can on a schooner called “Fame” off the coast of Salem, Massachusetts at last week’s Cabot Wealth Summit. It was one of
many investing success stories I heard from the 54 Cabot subscribers who attended our fifth annual late-summer conference.
Cabot Wealth Summit Stories
There was the couple from nearby Beverly, Massachusetts—Joe and Bernice Thomas—who got in on Apple (AAPL) when it was trading at $1.10 in the late 1980s because they were impressed with their son’s nifty new Mac computer. Thirty years ago, the Thomases bought $20,000 worth of AAPL stock, and still hold it today. Along the way, they booked a profit of more than $1 million.
“The stock was a dog back then,” Joe Thomas explained. “But it helped put our kids through college.”
Later, Joe and Bernice discovered Cabot Wealth Network’s investment newsletters, and subscribed to founder Carlton Lutts’ Cabot Market Letter (now called Cabot Growth Investor). They eventually signed up for all of Cabot’s investment advisories, including Cabot Small-Cap Confidential, which helped them nab what Joe Thomas called a “nine- or 10-bagger” in Mitek Systems (MITK).
There was Richard Girard, a Salem-based pilot for American Airlines whose many winners since subscribing to Cabot’s newsletters include a 200% return in Facebook (FB), a 60% return in T-Mobile (TMUS) and a 30% return in Aflac (AFL). Girard’s biggest winner, however, was little-known Presstek, a company that makes printers—recommended years ago by Carlton Lutts.
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At that rate, $10,000 mushrooms to $640,000.
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And then there was Phil Cohen, a commercial real estate agent from West Roxbury, Massachusetts. Unsatisfied with his experience with one of the larger investment newsletter publishers, Cohen discovered Cabot with a simple Google search. He has been a devoted subscriber to most of Cabot’s 12 investment advisories since, using the profits from his investments to help fund seed money for local startups. Cohen was attending his fourth straight Cabot Wealth Summit this year.
Life-Changing Investment Advice
As editor of the Cabotwealth.com website, I rarely speak directly to our readers. Writing a daily column and posting to our investment site various articles, videos and reports produced by our stable of outstanding advisors, I operate mostly in the background. So, I sometimes forget the profound, often life-changing impact our investment advice has on real people. The Cabot Wealth Summit is my one yearly reminder of that impact.
Yes, the 54 subscribers who joined us at Salem’s historic Hawthorne Hotel for two days last week ostensibly came for the stock picks and dozen or so in-depth presentations given by our investment experts. But as Knut Langballe told yarn after yarn on our evening sail—completely unfazed by the light rain dripping on him or the lightning striking all around us as the Fame’s captain nimbly dodged the various storms that had surrounded our boat—I realized what I always do during our annual Summit: that the conversation is what draws people to the conference. It’s a chance for individual investors to meet in person and swap stories about virtually anything—their backgrounds, their interests, their hobbies. But above all, about how Cabot Wealth Network helped make them rich.
Subscribe to one of our investment advisories today by clicking here, and perhaps I’ll be hearing your story at next year’s Summit.
Investment analyst and web content editor Chris Preston brings you all the latest from the investing world. Sign up to get updates and breaking news delivered FREE to your inbox. Get unlimited access to our library of complimentary investing reports.Sign up now!