|Walter J. Schloss|
|Born||August 28, 1916
New York City, U.S.
|Died||February 19, 2012
New York City, U.S.
|Known for||Manager of Walter & Edwin Schloss Associates|
Walter J. Schloss (August 28, 1916 – February 19, 2012) was an American investor. He was a well-regarded value investor, as well as a notable disciple of the Benjamin Graham school of investing. He died of leukemia at the age of 95.
Schloss did not attend college and was initially hired at the age of 18 as a runner on Wall Street in 1934. Schloss took investment courses taught by Graham at the New York Stock Exchange Institute. One of his classmates was Gus Levy, the future chairman of Goldman Sachs. He eventually went to work for Graham in the Graham-Newman Partnership.
In 1955, Schloss left Graham's company and started his own investment firm, eventually managing money for 92 investors. By maintaining a manageable asset size, Schloss averaged a 15.3% compound return over the course of four and a half decades, versus 10% for the S&P 500.
Schloss closed out his fund in 2000 and stopped actively managing others' money in 2003.
He served four years in the U.S. Army during World War II.
Warren Buffett had this to say about Schloss:
He knows how to identify securities that sell at considerably less than their value to a private owner: And that's all he does... He owns many more stocks than I do and is far less interested in the underlying nature of the business; I don't seem to have very much influence on Walter. That is one of his strengths; no one has much influence on him.
- Value Investing
- Benjamin Graham
- David Dodd
- The Intelligent Investor
- Warren Buffett
- Irving Kahn
- Amit Ayare
- Arnold, Laurence (February 20, 2012). "Superinvestor Walter Schloss Dies at 95". Bloomberg. Retrieved February 20, 2012.
- Investment Leadership: Building a Winning Culture for Long-Term Success. by James W. Ware, Beth Michaels, Dale Primer. Published by John Wiley and Sons, 2003. pg. 124. ISBN 0-471-45333-1.
- Buffet, Warren (May 17, 1984). "The Superinvestors of Graham-and-Doddsville". HERMES. Retrieved 20 February 2014.
- Board of Trustees, Freedom House
- Donors, Lower East Side Tenement Museum
- Schloss Archives for Value Investing, The Heilbrunn Center for Graham & Dodd Investing at Columbia Business School
Good Interview with Walter Schloss from Barron's - February 25, 1985