Thursday, 23 February 2012

Walter Schloss, ‘Superinvestor’ Who Earned Praise From Buffett, Dies at 95

Legendary US value investor Walter Schloss died on February 19, 2012, at the age of 95.

Walter Schloss, right, stands for a photo with his son Edwin.
Source: Heilbrunn Center for Graham and Dodd Investing, Columbia Business School via Bloomberg

Warren Buffett wrote about him: "Walter never made a dime off of his investors unless they themselves made significant money. He charged no fixed fee at all and merely shared in their profits. His fiduciary sense was every bit the equal of his investment skills."

His investment style was based on sheer hard work: "The Schloss theory of investing, passed from father to son, involved minimal contact with analysts and company management and maximum scrutiny of financial statements, with particular attention to footnotes."

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