Gerald M. Loeb

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Gerald M. Loeb
GeraldLoeb.png
Born July 1899[1]
Died April 13, 1974(1974-04-13) (aged 74)
Occupation Stockbroker, Investment banker
Years active 1921–1974
Employer E.F. Hutton & Co.
Known for Wall Street Trader, author

Gerald Loeb (July 1899 – April 13, 1974) was a founding partner of E.F. Hutton & Co., a renowned Wall Street trader and brokerage firm. He was the author of the books The Battle For Investment Survival[2] and The Battle For Stock Market Profits. Loeb promoted a view of the market as too risky to hold stocks for the long term in contrast to well known value investors. He also created the Gerald Loeb Award, given annually for excellence in various cateogories of financial journalism.[3]

Career and writing[edit]

Loeb began his career in 1921, working in the bond department of a securities firm in San Francisco.[4] He moved to New York in 1924 after joining E. F. Hutton & Co., and became vice-chairman of the board when the company incorporated in 1962.[4]

Although he had largely avoided personal losses, the Wall Street Crash of 1929 greatly affected Loeb's investing style, making him skeptical of holding stocks for the long term. Loeb offered a contrarian investing viewpoint, in books and columns in Barron's, The Wall Street Journal, and Investor Magazine.[3][4] Forbes magazine called Loeb "the most quoted man on Wall Street."[5]

Loeb's first book, The Battle for Investment Survival(1935), sold over 200,000 copies during the Great Depression.[2][3] Loeb updated the book in 1957 and 1965, as it attained the status of a classic financial text. In 1971, Loeb published The Battle for Market Profits as a follow up to his original book where he depicted the market as a battlefield.[4]

See also[edit]

References[edit]

  1. ^ Hickerson, John Melancthon (1951). How I Made the Sale That Did the Most for Me. Prentice-Hall. p. 24. 
  2. ^ a b Loeb, Gerald (1996). The Battle for Investment Survival. John Wiley and Sons. ISBN 0-471-13297-7. 
  3. ^ a b c Staff. "About the Gerald Loeb Awards". UCLA Anderson, School of Management. Retrieved 2007-11-11. 
  4. ^ a b c d Boik, John (2004). Lessons from the Greatest Stock Traders of All Time. McGraw-Hill Professional. pp. 47–67, "Chapter 3: Gerald M. Loeb". ISBN 0-07-143788-6. 
  5. ^ Krass, Peter; Contributors Richard Poe, Warren Buffett. The Book of Investing Wisdom: Classic Writings by Great Stock-Pickers and Legends of Wall Street. John Wiley and Sons. p. 176. ISBN 0-471-29454-3. 

Further reading[edit]

  • Boik, John (2004). Lessons from the Greatest Stock Traders of All Time. McGraw-Hill Professional. pp. 47–67, "Chapter 3: Gerald M. Loeb". ISBN 0-07-143788-6. 
  • Krass, Peter; Contributors Richard Poe, Warren Buffett. The Book of Investing Wisdom: Classic Writings by Great Stock-Pickers and Legends of Wall Street. John Wiley and Sons. pp. 176–183, Chapter: "Importance of Correct Timing, Gerald M. Loeb". ISBN 0-471-29454-3. 
  • Loeb, Gerald M. (1960). Loeb's Checklist for Buying Stocks. Simon and Schuster. ISBN 0-671-42705-9. 
  • Martin, Ralph G. (1965). The Wizard of Wall Street: The Story of Gerald M. Loeb. W. Morrow. p. 192 pages.