Bates, Rex J. "Jim" - from United States
Country of meeting: in the year 2006
As a partner, he worked for 23 years as both a stock and bond analyst. In 1972, he became financial vice president of State Farm Insurance in Bloomington, Illinois, where he served for 19 years and assisted in substantially improving State Farm's long-term financial sustainability.
He was a modest man and was embarrassed by a 1981 Wall Street Journal article that called him the "lone ranger of investing" for his decision to buy high-yield municipal bonds in an era when they were not a preferred investment.
He was elected to the boards of directors of State Farm Mutual Automobile Insurance Company and all of its affiliates and retired in 1991 as mutual company vice chairman.
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