Walter Schloss was an amazing investor. He averaged a 16% total return after fees over five decades versus 10% for the S&P500 over the same time period. If you invested $100,000 today, a 16% average annual return would grow to $167 Million over those five decades, while a 10% average annual return would grow to just $11.7 Million during the same time frame. Therein lies the power of compounding and performing just a bit higher than the market average over a long period of time.
Walter ran his business (eventually with his son, Edwin Schloss) with no analysts, no secretary and no technology - just a paper copy of Value Line and a telephone. His annual costs were less than $10,000. A former employee of Benjamin Graham, this was a man who truly loved buying cheap stocks. A link to The Walter Schloss Archive, including his writings and lectures can be found here. The simplicity of his strategy is likely attributable to the market-beating returns that he produced over his lifetime. He left many gifts for investors, including the following list of 16 factors needed to make money in the stock market.
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