RIP Walter Schloss

[Kraven]

One of the greatest investors ever and his death is largely missed by the media...

 

I suspect that this is the way he would want it.  While his passing is incredibly sad for those of us who idolized him, he was a quiet family man and did not seek out or relish any publicity.  It would have been great to a lot of media attention, but I doubt that this is anything he or the family would want unfortunately for us. 

[Parsad]

Alice Schroeder had a column on Schloss.  Cheers!

 

http://www.aliceschroeder.com/blog/walter-schloss-what-guy

[Kraven]

NY Times obituary -

 

Obituary - New York Times, Feb 20, 2012

 

WALTER J. SCHLOSS

 

SCHLOSS--Walter J., of Manhattan and New Canaan, CT, a renowned value investor, died on February 19, 2012 at the age of 95, surrounded by his family. Born on August 28, 1916, he was the son of Jerome H. Schloss and Evelyn Gomprecht Schloss. Beloved husband of Ann (Pearson) Schloss and the late Louise (Filer) Schloss, father of Edwin Walter Schloss, Stephanie Schloss Scott and Samuel Wennberg. He was the brother of Marjorie Isaac, grandfather of Katie and Emily Schloss; James Scott; Claire, Lenna, and Maren Wennberg. Mr. Schloss grew up in Manhattan, attended Franklin School and the New York Stock Exchange Institute, where he studied under Benjamin Graham. He enlisted in the Army on December 8, 1942, rising to the rank of Second Lieutenant. He served in Iran as part of the US Signal Corps, finishing out his wartime service at the Pentagon. At the end of WWII, he was invited by Benjamin Graham to join the firm of Graham Newman as a securities analyst. In 1955 Mr. Schloss set up his own investment management partnership, Walter J. Schloss Associates. His son, Edwin, joined the company in 1973. Walter managed investments with utmost integrity and a commitment to his clients. He retired in 2002 at the age of 87. Warren Buffett referred to Walter as a "super investor". In his 2006 Letter to Shareholders, Buffet said: "Let me end this section by telling you about one of the good guys of Wall Street, my long-time friend Walter Schloss, who last year turned 90. From 1956 to 2002, Walter managed a remarkably successful investment partnership, from which he took not a dime unless his investors made money. My admiration for Walter, it should be noted, is not based on hindsight. A full fifty years ago, Walter was my sole recommendation to a St. Louis family who wanted an honest and able investment manager." Mr. Schloss has been profiled in numerous financial journals including Barrons, Forbes, and Fortune. His investment archive is housed at Columbia University. He served as Treasurer of Freedom House. Walter Schloss had an insatiable curiosity about the world. His business and personal integrity is legendary. He was a proud New Yorker, an inveterate NY Yankees fan, a bird watcher in his beloved Central Park, and excelled at bridge. In 2000, while on a tour of France, he met Ann Pearson, whom he married in 2001. Their shared enjoyment of travel, theater, and family get-togethers brought them a decade of happiness. Above all, he was dedicated to his family. A private service will be held for the family. A reception for family and friends will be scheduled at a later date. Memorial contributions may be sent to Central Park Conservancy, Public Broadcasting System (PBS) or Freedom House, Washington DC.

 

[Kraven]

From The Economist -

 

http://www.economist.com/node/21550274