Walter schloss is one of the best known and most successful disciples of benjamin graham, the creator of value investing. Walter scott scott, walter, 17711832 the online books. Kresin, and biographical memoirs, volume 82 published 2003 by the national academy press washington, d. Unforunately, schloss never wrote any books nor are there many recommendations from.
Grahams own memoir delightfully covers that ground. Associates, which included a 20year compilation of walters record since he left grahamnewman. And while finding 100 stocks that fit his exact investment criteria might be a difficult task in todays market, his thoughts on knowing your own strengths and weaknesses just as well as your stocks strengths and weaknesses and understanding and controlling your. Bruce greenwald, roger lowenstein, howard marks, j. Walter kohn, a giant of theoretical physics, died at his home in santa barbara, california on april 19, 2016, at the age of 93. He compounded money at 16% per annum for the next forty nine years.
Walter schloss, one of the countrys foremost value investors, got his first job on wall. Benjamin graham the memoirs of the dean of wall street by. Schloss has been around wall street for more than four decades. Three previous posts discussed the publication of the two volumes of memoirs by nikita khrushchev, the second volume appearing in mid1974. May 9, 1894 september 21, 1976 was a britishborn american economist, professor and investor. Not only was he a fantastic money manager for his investors, he managed a nonprofit endowment, came from a hard working family, and volunteered for the army during wwii. Over an astounding 45 years from 1956 to 2000, walters fund earned a cagr of 15. Therefore, wurttemberg was well thoughtout as the state of french vessel. The next day, i went into the office and asked my boss whether i would still. Value investing can be divided into two separate groups. Walter schloss was undoubtedly one of the great value investors of all time, and truly a superinvestor. We would like to show you a description here but the site wont allow us.
A personal and family history hardcover 2003 by walter j. Walters life epitomized both the hardships and the wondrous achievements of physicists in the 20th century. Walter schloss on selling stocks schloss subscribed to the idea of selling at what he believed to be intrinsic value and didnt focus so. Bad at market predictions, good at investing wsjpdf. Walter schloss is one of the greatest value investors ever. Walter schloss was never a face on financial television programmes. He is widely known as the father of value investing, and wrote two of the founding texts in neoclassical investing. Josef michael hartinger 14 september 1893 1984 was a german lawyer who worked for the bavarian state authorities in the latter years of the weimar republic when the nazis came to power. Tasked with investigating some unnatural deaths at the dachau concentration camp near munich, hartinger together with his medical examiner colleague, moritz flamm, discovered the. Schloss enrolled in the new york stock exchange institute, where he took courses from benjamin graham on how to value businesses, find value stocks, and manage. In 1994, walter schloss sat down and outlined his thoughts on making money in markets to serve as a guide to newer investors or those without indepth knowledge of the value investing process. Full text of inside the third reich internet archive. Walter david knight 19192000 a biographical memoir by erwin l.
He writes in a style like he is talking directly to you, and you may benefit from the many insights he shares. A personal and family history walter schloss a modern approach to graham and dodd investing wiley finance by thomas p. He went to work for benjamin graham at grahamnewman in 1946. Schloss associates in 1955, he was joined by son, edwin, in 1973. Introduction jakob walter takes birth inside rosenberg in year 1788, which is near to the land of kaiya into german region of wurttemberg.
One side focuses upon the sustainability of earnings and the efficiency in which the earnings are reinvested, while the other side focuses upon the value of the assets. Schloss august 28, 1916 february 19, 2012 was an american investor, fund manager, and philanthropist. A personal and family history are now out of print, there are various lectures and interviews by schloss available online. Walter schloss, a legendary value investor who learned directly from benjamin graham, the father of value investing, never graduated from college and was hired as a runner on wall street in 1934, at the age of 18. As i understand it, this book was selfpublished by. But as a benjamin graham disciple, he learned his lessons well. Not finding it in amazon, i requested the university. I have even more respect for him after reading his autobiography.
Stocks held by walter schloss articles about benjamin graham articles by benjamin graham articles about walter j. Any opinions expressed in this memoir are those of the author and do not necessarily reflect the views of the national academy of sciences. In november 1970, the world was surprised by the announcement of the upcoming publication of the memoirs of nikita khrushchev, deposed leader of the soviet union. Security analysis 1934 with david dodd, and the intelligent investor 1949. Walter schloss, superinvestor praised by warren buffett. In this article, i tried to summarize his investment philosophy from his writings, although i am still looking for his memoirs, the memoirs of walter j.
The memoirs are interesting, but their quality is uneven. Schloss had a career which spanned many decades from the early times of ben graham to the 2000s. Jakob walter memoirs of jakob walter as an infantry. Too often, the author goes into tedious details about his job which came to be painful for this reader interested in world war ii, but not necessarily in questions of espionage. When he decided to close his firm in the early 2000s, his record stood at a compound average annual return of 16% per year over a 40 year career thats pretty astounding. Wurttemberg was the division of the confederation of rhine set up from napoleon. Today i received the 1975 annual letter of walter j. Many investors love to forecast the direction of the markets but, while its possible to guess correctly from time to time, investors have proven unable to make accurate market predictions to the extent that they just cant be relied on to yield great returns over the long run. Nor was he known for marketing his skills to investors he was indifferent to collecting clients and only 92. Unforunately, schloss never wrote any books nor are there many recommendations from the famed value investors.
The walter schloss approach to value investing vintage. Walter schloss has lived through 17 recessions, starting with one when woodrow wilson was president. The project gutenberg ebook of memoirs of the life of sir. Book value and honesty walter schloss was a contrarian who based his value investing techniques on those developed by his mentor, benjamin graham. Benjamin graham the memoirs of the dean of wall street book. Walter schloss as the saying goes, a stock well bought is half sold. Paul isaac arbiter partners walter schloss nephew and irving isaacs son. The project gutenberg ebook of memoirs of the life of sir walter scott, volume 6, by john gibson lockhart this ebook is for the use of anyone anywhere at no cost and with almost no restrictions whatsoever. Todays post is written by david langbart, an archivist in the textual records division at the national archives at college park. Finance, when walter schloss 19162012 was in the class. Walter schloss in many ways ben graham was an undervalued situation. Schloss and the former evelyn gomprecht, according to a. Walter schloss new lows screen stock screen stockopedia.
Schloss associates where he racked up one of the best records in investing history until his passing in 2012. Walter schloss value investing strategy joshua kennon. The walter schloss approach to investing investopedia. Schloss autobiography is revealing as to what he found important. At 91, the man warren buffett famously dubbed a superinvestor is still picking unloved stocks. The journalist strobe talbott served as editortranslator for both books. His intent focus on company balance sheets and little else is. He wrote this book in 2003, shortly after he retired from nearly 50 years of compounding at an average annual rate of over 15%. Schloss and associates, which he ran from a small room inside tweedy, brownes offices.
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