Schloss Family Business Papers, 1957-2003

Summary Information

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.

Description

Summary

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.

Arrangement

Organized into 1 series.

Using the Collection

Restrictions on Access

You will need to make an appointment in advance to use this collection material in the Rare Book and Manuscript Library reading room. You can schedule an appointment once you've submitted your request through your Special Collections Research Account.

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 Governing Use and Reproduction

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.

Accrual

No additions are expected

Immediate Source of Acquisition

Source of acquisition--Transferred from the Graduate School of Business in Fall 2017. Deed of gift signed by Edwin Schloss on behalf of the family acknowledging the transfer of the collection to the RBML on 16 October 2017.

2017.2018.M039: Source of acquisition--Meredith Trivedi, Esq. Method of acquisition--Gift; Date of acquisition--9/15/2017.

About the Finding Aid / Processing Information

Columbia University Libraries, Rare Book and Manuscript Library

Processing Information

Papers processed by Molly Boord (GS 2021) Fall 2017.

Finding aid written by Jocelyn Wilk October 2017.

Revision Description

2017-11-04 File created.

2019-05-20 EAD was imported spring 2019 as part of the ArchivesSpace Phase II migration.

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.".

Subject Headings

The subject headings listed below are found in this collection. Links below allow searches for other collections at Columbia University, through CLIO, the catalog for Columbia University Libraries, and through ArchiveGRID, a catalog that allows users to search the holdings of multiple research libraries and archives.

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