Walter Schloss Dies at 95

Today is a sad day. Famed superinvestor Walter Schloss has died at 95 of Leukemia. Schloss worked with Warren Buffett at Graham-Newman Corporation and appears as Buffett’s first example of a superinvestor in the classic piece The Superinvestors of Graham and Doddsville. He started his own fund in 1955 and until 2002 earned average annual returns (after fees) of a stunning 16% (not compounded; he returned each year’s gains unless instructed to reinvest).

Bloomberg reports:

Walter Schloss, the money manager . . .

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Walter Schloss’ 16 Golden Rules of Investing

An oldie, but a goodie. Here are famed value investor Walter Schloss’ 16 Golden Rules of Investing (original PDF here):

Price is the most important factor to use in relation to value Try to establish the value of the company. Remember that a share of stock represents a part of a business and is not just a piece of paper.  Use book value as a starting point to try and establish the value of the enterprise. Be sure that debt . . .

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