| London,
Ontario – Students in Dr. George
Athanassakos’ Value Investing classes at
the Richard Ivey School of Business will
have the opportunity to learn from
renowned value investor Walter J.
Schloss at a videoconference in London
on February 12th.
At the
age of 91, Walter Schloss is considered
one of the greatest value investors of
all time. While he is not as famous as
Warren Buffett, perhaps intentionally,
he is as legendary in the field of value
investing. Students are looking forward
to hearing him speak as Schloss is now
retired and rarely gives public
lectures.
Schloss started on Wall Street in 1934,
in the midst of the depression at the
age of 18. During the late 1930s, he
took courses from Benjamin Graham, the
father of value investing, at the New
York Stock Exchange Institute.
Schloss
started his limited partnership in the
mid-fifties, and in 1973 when his son
Edwin joined him, the fund was renamed
Walter & Edwin Schloss Associates. From
1956 to 2000, Mr. Schloss and his son
provided investors a compounded return
of 15.3% compared with the S&P 500’s
annual compounded return of 11.5%.
In his recent letter to shareholders,
Warren Buffett reflected on his
relationship with Schloss, whom he
described as “one of the good guys of
Wall Street.”
“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,” said
Buffett.
The
video conference is part of series of
high profile Canadian and US value
investor speeches organized by Dr.
George Athanassakos, the holder of
the Ben Graham Chair in Value Investing
and the Director of the Ben Graham
Centre of Value Investing, for the
benefit of his students in his Value
Investing courses at the Richard Ivey
School of Business.
Ben
Graham pioneered the style of investing
referred to as value investing. The key
to value investing is buying a stock or
business that is worth $1 for fifty
cents. Value investors receive large
rewards for their patience in targeting
out-of-favor industries and companies.
They believe the market over-reacts on
the down as well as the upside, causing
stock prices to deviate, often
significantly, from their intrinsic
value.
To find
out more about Mr. Schloss and his
speech, please visit
www.bengrahaminvesting.ca
What:
Videoconference with value investor
Walter J. Schloss, CFA, Walter & Edwin
Schloss Associates
When: Tuesday, February 12th at
5:20 p.m.
Where: Richard Ivey School of
Business, Room 1R40
About the Richard Ivey School of
Business, The University of Western
Ontario
The Richard Ivey School of Business at
The University of Western Ontario (www.ivey.ca)
offers undergraduate (HBA)
and graduate degree programs (MBA,
Executive MBA and
PhD) in addition to non-degree
Executive Development programs. Ivey has
campuses in London (Ontario), Toronto,
and Hong Kong. Ivey recently redesigned
its curriculum to focus on
Cross-Enterprise Leadership – a holistic
issues-based approach to management
education that meets the demands of
today’s complex global business world.
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For more
information, please contact:
Dawn Milne, Communications Specialist,
Richard Ivey School of Business:
519-850-2536,
dmilne@ivey.ca
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