On Feb. 19, 2012, another legendary value investor, Walter J. Schloss of Walter & Edwin Associates LP, died at the age of 95. Apart from his remarkable and unbeatable performance over a half century (16% against 10% of S&P 500 return), he also led a long life. That reminds me of one article that I read in 2011.
The original article is being written by Teh Hooi Ling, which was first published in The Business Times. I have summarized the article for you with some necessary updates.
Some well-known value investors live much longer than the average person. Recently, I was talking about this with one of my friends. He told me that it's probably a mere coincidence. I went further with this to figure out whether there are any specific reasons behind this phenomenon or if is it just a coincidence.
Teh Hooi Ling has covered some value investors with their almost similar investing techniques, importantly with their age. I have summarized it here for you:
- Benjamin Graham, teaches value investing at the Columbia Business School, lived until 82.
- David Dodd, also a professor at Columbia Business School and co-author of "Security Analysis," lived until 93.
- Sir John Templeton, investor and mutual fund pioneer died, at 95.
- Philip Fisher, author of the still-popular "Common Stocks and Uncommon Profits," died at age 96.
- Philip Carret, the author of "A Money Mind at Ninety," died at the age of 101.
- Roy Neuberger, founder of Neuberger Berman, died at an age of 107.
- Warren Buffett, chairman and CEO of Berkshire Hathaway, age 80 and still going strong.
- Charlie Munger, vice chairman of Berkshire Hathaway, age 87 and still breathing.
- Martin Whitman, founder and portfolio manager of Third Avenue Value Fund, age 87 and still going.
- Irving Kahn, Chairman of Kahn Brothers Group Inc., age 105 and still maintains regular five-day office hours to search for more undervalued stocks.
- Walter J. Schloss, Walter & Edwin Schloss Associates LP, died at the age of 95.
- William J. Ruane, founder of Ruane, Cunniff, and Goldfarb, died at the age of 80.
- Charles H. Brandes, founder of Brandes Investment Partners, age 69, currently has over $52.9 billion under management and is based in San Diego, Calif.
- Job satisfaction
- Active mentally
- Eustress, the flipside of distress
- Intelligence, good upbringing and better health care
- Have a nutritious diet, with a lot of vegetables and salads.
- Get plenty of fresh air.
- Don’t drink, don’t smoke (he drinks at most one glass of wine every three months).
- Always stay in motion, be open, get to know people from all over the world.
- Have a lot of interests and learn things that you can’t do yet – that keeps you young!
The articles can be found at: http://www.asiaone.com/Business/My+Money/Opinion/Story/A1Story20091123-181641.html and http://www.spiegel.de/international/zeitgeist/0,1518,719208,00.html
Mohammad Siddiquee is a Ph.D. Finance Candidate at the University of New Brunswick, Fredericton, Canada, and runs a value investing research website at www.patienceinvesting.com.