Provo, Utah (PressExposure) May 20, 2008 -- Paragon Wealth Management, an investment firm in Provo, Utah, received a Smoot Award Wednesday night from the Provo/Orem Chamber of Commerce. The Chamber honored Paragon with the Small Business of the Year Award.
âWe are honored to receive this award,â said Dave Young, President of Paragon. âIt is a privilege to be recognized in our community.â
The Provo/Orem Chamber of Commerce presented 12 Smoot awards, each in a different category, to honor prominent business and community leaders in Provo at the 20th Annual Senator Reed Smoot Outstanding Citizens Awards Banquet.
The awards are named after Reed Smoot who was a U.S. Senator from 1903 to 1933. Guests enjoyed dinner, entertainment and the award presentations at the Provo Library.
Paragon Wealth Management began in 1986 when Young, an undiscovered money manager, started investing his own money after he sold his 12 franchise businesses and couldnât find a traditional brokerage firm to meet his needs. When he avoided the 1987 stock market crash, his methods sparked a lot of interest and he began to manage money for clients.
Youngâs methods have gained more attention when he announces the numbers for his flagship portfolio called Top Flight . To date Paragonâs Top Flight Portfolio generated a total return of 402.38% verses 68.49% for the S&P 500 from its inception on December 31, 1997 through April 30, 2008. Its compound annual return is 17.07%, versus 5.22% for the S&P 500 (visit http://www.paragonwealth.com to see complete track record and full disclosures).