The book foreword for Millionaire Down the Road was written by Kenneth Corba, portfolio manager for the CM Legacy Fund.


It was during October 2003 on a crisp, clear early afternoon in Buenos Aires. Doug Hodgins and I were sitting in an outdoor café called La Biela. Unusual for me in my adult life, I had nothing I needed to do that afternoon and nowhere I needed to be. We were simply enjoying a rich cup of coffee and the sights and sounds of the bustling Recoleta district.

At some point, as we became a bit philosophical, Doug turned to me and said, “Have I ever told you about my father’s investment story?” By this time I had come to know Doug, a Canadian financial advisor, pretty well over a period of several years. We had met at an investment conference and soon hit it off as friends. We had clients in common and shared a passion for golf and travel.

However, Doug had never really said anything remarkable to me about his father. For some reason I expressed an interest that day, and he began to tell me a fascinating and compelling story about his father’s approach to investing and the long-term success he had achieved after starting with only a modest amount of money.

Rankin Hodgins never earned more than $65,000 per year in his working career and started his investment portfolio in 1978 with $200,000. Twenty-five years later, his net worth had grown to over $4.5 million without adding any additional investment capital. It wasn’t so much the fact that he compounded money at an attractive rate over time; it was how he did it that intrigued me.

At that time I was the New York–based CEO and chief investment officer of Pimco Equity Advisors. I managed a $2 -billion mutual fund and supervised a team of portfolio managers investing over $14 billion in assets. My investment perspective came from an MBA at the University of Michigan, a CFA and twenty years’ experience as a professional money manager.

As Doug told me about his father that afternoon, there was something so charming and authentic about his story that captured my imagination, and I began to look at a lifetime of investing in a different way. I was sufficiently inspired by this story that within the next year I made a trip to visit Mr. Hodgins, who lived in Lethbridge, Alberta, about as far away from Wall Street as one can get. He turned out to be one of the most memorable characters I have met during a long career in the investment business.

Eventually I started my own investment fund, which I continue to manage today using many of the same principles outlined in this book. Millionaire Down the Road chronicles the life and investment journey of Rankin Hodgins. His philosophy and common sense views on money and investing reflect an eternal wisdom developed over a lifetime on the prairies of Canada.

I’m sure you’ll find the story of this authentic, self-made man as inspirational as I did. It may even alter your view of investing.

—Kenneth Corba
New York, New York



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