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GAMCO Investors history
GAMCO Investors company history timeline
A Decade of Value Investing: 1976--86
He joined a smaller, research-oriented firm but ran into the same problem and quit in 1976 to form the brokerage house Gabelli & Co. with borrowed funds and money he had accumulated from trading on his own account.
Gabelli & Co. in 1977 was a dealer-broker specializing in the shares of companies neglected by the big investment houses because the capitalization of these companies was so small that they could not take a large position without distorting the market for these securities.
He began buying Cowles Communications, Inc., for example, in 1977 at $14 a share and eventually became its biggest stockholder.
Founded in 1987, Gabelli Growth Fund was first managed by Elizabeth Bramwell, an analyst Gabelli met at Columbia during their student days.
However, during a disastrous 1990 Gamco's accounts lost 14.1 percent, and three of the four open-end mutual funds lost value, partly because of the fall in share value of telephone companies Gabelli had been touting.
By early 1991 Gabelli Group was overseeing 1,000 institutional and individual accounts, five mutual funds, an arbitrage fund, and several other United States and offshore investment partnerships.
Mario Gabelli refurbished his reputation in 1997, when ten Gabelli equity funds averaged a return of 31.7 percent, the best of any United States mutual fund group, earning him the accolade of domestic equity fund manager of the year by Morningstar Inc.
In February 1999, the company held an IPO on the New York Stock Exchange under the symbol GBL. Per an agreement with the company upon its IPO, Mario Gabelli received 10 percent of its pretax profits in compensation.
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GAMCO Investors competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Stifel Financial | 1890 | $49.8M | 7,100 | 147 |
| Morgan Stanley | 1935 | $3.0B | 68,097 | 1,077 |
| Citi | 1812 | $74.3B | 210,000 | 943 |
| CME Group | 1848 | $6.1B | 4,500 | 38 |
| The Vanguard Group | 1975 | $6.9B | 17,600 | 16 |
| Charles Schwab | 1971 | $1.6B | 32,000 | 602 |
| MFS Investment Management | 1924 | $500.0M | 1,901 | 22 |
| Baron Capital | 1982 | $28.1M | 100 | 10 |
| T. Rowe Price | 1937 | $7.1B | 7,678 | 433 |
| ASSET CONSULTING GROUP | 1989 | $770,000 | 4 | 53 |
GAMCO Investors history FAQs
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GAMCO Investors may also be known as or be related to GAMCO Investors, GAMCO Investors Inc, GAMCO Investors Inc., GAMCO Investors, Inc, Gabelli Investor Funds, Inc. and Gamco Investors, Inc.