Carol Junge Loomis
|Born||June 25, 1929|
|Education||Drury College, University of Missouri|
|Occupation||Journalist and retired senior editor-at-large at Fortune|
Loomis had the longest tenure of any employee in Fortune magazine's history, having joined the staff in 1954 as a research associate and retired on July 1, 2014.
In 1966, she coined the term "hedge fund". for a hitherto little known strategy that took off as a result. That year Carol Loomis wrote an article called "The Jones Nobody Keeps Up With." Published in Fortune, Loomis' article lionized Jones and his approach. The article's opening line summarizes the results at A.W. Jones & Co.: "There are reasons to believe that the best professional money manager of investors' money these days is a quiet-spoken seldom photographed man named Alfred Winslow Jones." Coining the term 'hedge fund' to describe Jones' fund, it pointed out that his hedge fund had outperformed the best mutual fund over the previous five years by 44 percent, despite its management-incentive fee. On a 10-year basis, Mr. Jones's hedge fund had beaten the top performer Dreyfus Fund by 87 percent. This led to a flurry of interest in hedge funds and within the next three years at least 130 hedge funds were started, including George Soros's Quantum Fund and Michael Steinhardt's Steinhardt Partners.
She retired from Time/Fortune magazine in July 2014 after a tenure of over 60 years with the company.
Carol was met with sexism at the Economic Club, after the Economic Club black tie event called Fortune to send someone to the dinner. They refused Carol's attendance as they "didn't allow women". She still went, and later sued them. It was a private club so she lost the case.
Carol was later invited to the Economic Club and she turned down the invite.
- 1974 Gerald Loeb Award for Magazines for "How the Terrible Two Tier Market Came to Wall Street"
- 1989 Gerald Loeb Award for Magazines for "Buyout Kings"
- 1993 Gerald M. Loeb Lifetime Achievement Award
- 2000 Women's Economic Round Table award for print journalists
- 2001 Time Inc.'s Henry R. Luce Award
- 2006 Distinguished Achievement Award, Society of American Business Editors and Writers
- 2006 Gerald Loeb Award for Magazines for "Why Carly's Big Bet Is Failing, How the HP Board KO'd Carly"
- "A conversation with Warren Buffett", Fortune, June 25, 2006
- "Warren Buffett's Wild Ride at Salomon", October 27, 1997 (website of the Los Angeles Chinese Learning Center)
- "The 15% Delusion", Fortune, February 5, 2001 (website of a McDonough School of Business faculty member)
- Tap Dancing to Work: Warren Buffett on Practically Everything, 1966-2012: A Fortune Magazine Book, December 31, 2013
- "Fortune's Carol Loomis sets the standard - Jon Friedman's Media Web". MarketWatch. Retrieved 2013-02-14.
- "Buffett and Brazilian investor to buy Heinz - The Term Sheet: Fortune's deals blogTerm Sheet". Fortune. cnn.com. Archived from the original on 2013-02-16. Retrieved 2013-02-14.
- "MU to Award Degrees at May 2007 Commencement Ceremonies | MU News Bureau". University of Missouri. 2007-05-04. Retrieved 2013-02-14.
- "Retirement". New York Post. Retrieved 2014-07-01.
- "The Original Hedge Fund". A.W. Jones. Archived from the original on 2012-12-14. Retrieved 2013-02-14.
- "Historical Winners List". UCLA Anderson School of Management. Retrieved January 31, 2019.
- "Winners selected for Loeb Awards". The New York Times. June 18, 1974. p. 58. Retrieved February 6, 2019.
- "Globe's David Warsh is Loeb Award winner". Boston Globe. 235 (130). Associated Press. May 10, 1989. p. 78. Retrieved February 15, 2019 – via Newspapers.com.
- "Wall Street Journal reporters are named Loeb award winners". The Wall Street Journal. May 19, 1993. p. B5.
- "Carol Loomis to receive Society of American Business Editors and Writers award". UNC School of Journalism and Mass Communication. March 30, 2006. Retrieved 2013-02-14.
- Lowe, Mary Ann (June 27, 2006). "2006 Gerald Loeb Award Winners Announced by UCLA Anderson School of Management". UCLA. Retrieved February 1, 2019.
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- "Fortune magazine senior editor returns to MU", Missourian, KATY STEINMETZ, September 13, 2008
- "Carol Loomis Q&A", University of North Carolina, Chris Roush, Sept. 12, 2005
- Carol Loomis articles at Byliner
- "MONEY & ETHICS", News Hour, June 27, 2002
- "Carol Loomis", Charlie Rose
- "Happy 80th birthday, Carol Loomis" from the UNC School of Journalism and Mass Communication