Schloss Family Business Papers, 1957-2003

Collection context

Creator:
Schloss, Walter J
Abstract:
The collection consists of business and financial reports, portfolio statements, correspondence, articles, and legal documents created by or maintained by Walter Schloss in the course of his business career. In particular there is correspondence with Warren Buffet and articles written by and about Benjamin Graham.
Extent:
3.55 linear feet 8 document boxes, 1 other box
Language:
English .
Scope and content:

This collection documents business and legal activities of Walter Schloss and his company from the late 1950s through the early 2000s. It also contains lectures and writings by and about his mentor, Benjamin Graham and personal correspondence with his friend Warren Buffett.

Biographical / historical:

Walter Schloss was a direct student of Benjamin Graham, and is one of the "Super Investors" mentioned by Warren Buffett in his famous essay, The Super Investors of Graham-And-Doddsville. Schloss was born in 1916 and passed away in 2012 at the age of 95. Schloss never went to college and at 18 years old, he worked as a runner for on Wall Street at Carl M. Loeb & Co. One day, a partner of the company, Armand Erpf, recommended that Schloss read "Security Analysis" by Graham and David Dodd, which had been published a year earlier. The firm then paid for Schloss to take two courses with Graham.

Schloss eventually went to work for the Graham-Newton Partnership and in 1955 Schloss launched his own value fund. Schloss stopped actively managing other people's money in 2003. He then became a treasurer for the Freedom House, a non-profit group devoted to furthering democracy and human rights. From 1955 to 2002, by Schloss' estimate, his investments returned 16% per annum on average after fees, compared with 10% for the S&P 500 over the period.

Upon Schloss' death, Buffett, who was a close friend for more than 60 years released the following statement: "He had an extraordinary investment record, but even more important, he set an example for integrity in investment management. Walter never made a dime off of his investors unless they themselves made significant money. He charged no fixed fee at all and merely shared in their profits. His fiduciary sense was every bit the equal of his investment skills.".

Access and use

Restrictions:

This collection is located off-site. You will need to request this material at least three business days in advance to use the collection in the Rare Book and Manuscript Library reading room.

This collection has no restrictions.

Terms of access:

Single photocopies may be made for research purposes. The RBML maintains ownership of the physical material only. Copyright remains with the creator and his/her heirs. The responsibility to secure copyright permission rests with the patron.

Preferred citation:

Identification of specific item; Date (if known); Schloss Family Business Papers; Box and Folder; Rare Book and Manuscript Library, Columbia University Libraries.

Location of this collection:
6th Floor East Butler Library
535 West 114th Street
New York, NY 10027, USA
Before you visit:
Researchers interested in viewing materials in the RBML reading room must must book an appointment at least 7 days in advance. To make the most of your visit, be sure to request your desired materials before booking your appointment, as researchers are limited to 5 items per day.
Contact:
rbml@library.columbia.edu