From 1955 to 1995, Walter Schloss was one of the best-performing investors in North America, rivaling the great Warren Buffett in success.
Schloss left Graham-Newman, the wealth management firm ran by Benjamin Graham (the father of value investing) in 1955, to start his own firm. Forty years later, he had delivered annual returns net to his investors of 15.7% per year, handily beating the S&P 500, which returned 10.4% a year. And remember, that was after Schloss’s management fee, which was 25% of the profits each year his investors made money (he didn’t charge anything when his investors lost). Read More…
It’s quite simple and timeless indeed. You always, ALWAYS diversify your holds and you can’t go wrong.
As the article mentions about Schloss he was all about that.
If it were easy everyone would be rich in the market. For someone to make money there is another who lost. I’m sure there are plenty of people following this advice carefully and their returns arent as spectacular 🙁 Just being a realist.
So is Buffett still considered a god today or is just the auora about his history that makes him popular?
Yea i remember Walter Schloss. He was a genius when i was growing up. He inspired me and got really hooked for a long time. I can’t say i made a fortune but i did learn a lot during his peak.
If you read his memoirs he actually goes further than just 3 lessons. Yes, cheap assets were the cornerstone of his strategy but he seemed to really focus on products that interested him — he didnt do much tech.
Wow, i would love to have a 15 point return each year for 40 years. That’s remarkable. What was his net worth?
Never heard of the man. Strange considering how you’re saying he is bigger than Buffet. Funny how society is only interested in the now, not the past.
Scloss was a genius. For most of the 70s his returns were nearly 40% or more per year. If i recall correctly one time it hit 51%!
I’m quite surprised he never wrote a book about his style. I only know of ones done by other people that map out his methods.