2017 marks the 93th anniversary of Baxter Investment Management. Our firm was founded as The Baxter International Economic Research Bureau in 1924, and our history spans three generations of the Baxter family. We believe that learning a bit about our past may lead to a better understanding of our current investment philosophy.

Our founder William J. Baxter, Sr. (d. 1970) was born in Worcester, Massachusetts in 1899, and was a pragmatic, entrepreneurial, and hard-working person. As a teen he worked selling newspapers in Boston—a business that, by the time he reached the age of seventeen, had become one of the largest wholesale and retail newspaper distribution businesses in Massachusetts.  With the money he earned selling newspapers, he paid for his education at Clark University and Harvard Business School. 

Shortly after his graduation from Harvard Business School in 1922, William J. Baxter, Sr. founded the Baxter International Economic Research Bureau to provide investors and businessmen with high quality economic forecasting and advice. From an office located in the heart of the financial district in lower Manhattan, the firm advised thousands of investors through every conceivable market and political event, from the speculative prosperity of the 1920’s, to the crash in 1929; from the Great Depression through the Second World War and beyond. 

During the 1920’s and 30’s, in addition to serving individual investors, the Baxter International Economic Research Bureau provided economic data and advice to many of the leading corporations of the day, including: Johnson & Johnson, Gulf Oil, Colgate-Palmolive, Gillette, Woolworth, Union Carbide, and E.I. du Pont de Nemours & Company.

During the post-war period of the 1940’s and 50’s, William J. Baxter, Sr. published several well-known books on investing and the economy.  His engaging style and innovative, easy-to-understand approach to the subject of economics proved to be popular with readers.  Over one million copies of his books were sold.

Steeped in his father’s investment principles and economic discipline, William J. Baxter, Jr. joined the firm following his graduation from the Columbia University School of Business in 1957.  While at Columbia Business School, Mr. Baxter studied under renowned professor Benjamin Graham, the "Father of Value Investing," co-author of Security Analysis and author of The Intelligent Investor.   

In the 1950’s, the firm began to move away from economic forecasting and publishing, and increasingly focused on offering individualized portfolio and asset management services to clients. In 1959, the Baxter International Economic Research Bureau became known as Baxter Bros., Inc., an SEC-registered investment advisory firm, and started doing business under the name Baxter Investment Management. 

In 1989, William J. Baxter III joined Baxter Investment Management, after having worked at another firm as a Wall Street securities analyst for several years.  Today, Bill serves as the firm’s President and Chief Portfolio Manager. 

Through three generations of skillful leadership, Baxter Investment Management has provided investors with unbiased advice, and an investment philosophy designed to manage risk and provide consistent, tax efficient, long-term growth. Our mission, which has never changed, has been to serve our clients with integrity and to offer outstanding personal service. Over eighty years after the firm was founded, Baxter Investment Management remains independent and dedicated to providing high quality asset management services.

                                                                                                                                                                                                             Our History