Value Investigator - Value Library

The one thing I dread is affluence. I have a lovely office now with pictures on the wall and a swivel chair…and I can't do anything.

- Sir Frederick G. Banting
Canadian physician and principal
discoverer of insulin

I am a student of history. I love to read about historical personalities and their achievements. Moreover, I believe much can be learned from their accomplishments and their erudite commentaries. More specifically, ever since I was in public school and studied Canadian history, I was always taken aback by Dr. Frederick Banting, the principal discoverer of insulin. His modest upbringing, serious study of medicine, dedication, Canadian patriotism and down-to-earth candour always impressed me.

Frederick Grant Banting was born on a farm near Alliston, Ontario in 1891. He attended the University of Toronto and graduated in medicine. He entered the Canadian army in WWI as a physician and was subsequently wounded in action in the hand. As a direct result, Dr. Banting earned a military medal for conspicuous bravery. After the war, Frederick Banting returned to Toronto and continued his medical research. Three years later at the age of 30 in conjunction with James Rickard McLeod and several others, he discovered insulin which revolutionized the treatment of diabetes. In 1923, Dr. Banting and Dr. McLeod jointly won the Nobel prize in medicine for their discovery of insulin. Eighteen years later in 1941, after joining the Canadian army as a major in WWII, Dr. Frederick G. Banting was killed in a plane crash over Newfoundland while on his way to England. Canada truly lost a great citizen and humanitarian.

But my interest in Dr. Banting goes further than his accomplishments. I was particularly impressed by his statements, especially the above quotation. It has always been my interpretation that Dr. Banting's dread of affluence related to his respect for simplicity. Moreover, it seemed to me that Frederick Banting felt the subsequent affluence of his surroundings brought on by his success became intrusive to his medical genius. Like many other personalities, his intellect and pursuit of excellence was not a function of a mahogany desk, leather swivel chair or a group of seven painting. Instead, it was his love and passion for his work which drove him to his extraordinary achievements. As investment professionals, this conclusion is well-worth remembering.