For his part, Mr. Jenrette believed that while big companies were quite profitable, their stocks had become so expensive as to suggest limited further gains. When Mr. Donaldson and Mr. Lufkin left the firm, Mr. Jenrette became chief executive and, after surviving a severe downturn in 1974, restored high profitability and sold D.L.J. “I’m probably better known for old houses and antiques than for Wall Street,’’ Mr. Jenrette said in an interview for this obituary in 2012. Mr. Jenrette later moved to The News & Observer in Raleigh, the state capital. In his later years Mr. Jenrette had owned several historic houses, all of which were to go to his Classical American Homes Preservation Trust.

Source: New York Times April 23, 2018 18:31 UTC