Discover the phenomenal story of Walter Schloss, a true pioneer in the world of value investing and a revered disciple of Benjamin Graham. Learn about his incredible investment prowess, timeless strategies, and unwavering dedication to principled investing. Dive into the life and legacy of this unsung hero, who, with his remarkable insight and exceptional track record, forever shaped the realm of finance and left an indelible mark on the investment community.
Walter Schloss was born on August 28, 1916, in New York City. He grew up in a modest household, experiencing financial difficulties from an early age. Schloss' passion for investing began during his teenage years when he read Benjamin Graham's book, "Security Analysis".
Throughout his life, Schloss maintained a strong personal ethic, focusing on integrity, humility, and hard work. Despite his success, Schloss always remained frugal and lived a modest lifestyle. He valued investing other people's money more than his own and was known for his down-to-earth personality.
Schloss started his career on Wall Street in 1934, joining an investment firm as a runner and later as a messenger. In 1935, he secured a job at Graham-Newman Corp., a money management firm headed by his investing idol, Benjamin Graham.
Schloss worked closely with Graham during his early years, learning various investing principles directly from the renowned investor. Eventually, Graham trusted Schloss enough to grant him the autonomy to select stocks independently for the firm.
However, it wasn't until 1955 that Schloss decided to start his own investment firm, Walter J. Schloss Associates, where he focused on deep value investing. Schloss continued to practice the value investing principles he had learned from Graham.
Schloss had an impressive career as an investor, particularly due to his consistent, long-term success with generating significant returns. Despite his very conservative approach and aversion to risk, he amassed a remarkable track record.
His investment strategy was straightforward: scour through undervalued stocks, looking for opportunities overlooked by the market. Frequently investing in unpopular, undercovered companies, Schloss patiently held onto his investments despite market fluctuations.
Schloss often concentrated his portfolio on several core positions he deeply understood rather than spreading capital thinly across various stocks. This disciplined approach, paired with meticulous research, rewarded him with solid returns throughout his career.
Overall, Walter Schloss' remarkable achievements in the investment world were a testament to his unwavering dedication, meticulous research, and adherence to his value investing principles. He remains an influential figure in the financial world and an inspiration to many aspiring investors.
Did you know you can earn $30 back on your first $30 of qualifying purchases with Rakuten?
Join now and start saving on every purchase from top retailers like Target, eBay, Zappos, Walmart, Kohl's & CVS. Whether you're shopping for fashion, electronics, home essentials, or health products, Rakuten makes it rewarding.
Sign up through this link and explore the endless possibilities to save and earn cash back!
Check out the Symbol Surfing blog to learn about investing.
