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An Old Time Deep Value Practitioner
Old 01-30-2008, 11:09 PM   #1
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An Old Time Deep Value Practitioner

Experience -

Walter Schloss is one of the original Ben Graham disciples. Interesting interview with some stock picks.


"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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Old 01-31-2008, 07:12 AM   #2
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He often found himself buying while stocks still had a long way to fall and selling too early.

Good to know even the best have struggled with this problem. Good article. Ha, you buying SUP?

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Old 01-31-2008, 09:29 AM   #3
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Schloss left the Graham firm in 1955 and with $100,000 from 19 investors began buying "working capital stocks" on his own, like mattressmaker Burton-Dixie and liquor wholesaler Schenley Industries. Success drew in investors, eventually rising to 92. But Schloss never marketed his fund or opened a second one, and he kept money he had to invest to a manageable size by handing his investors all realized gains at year-end, unless they told him to reinvest.
Good lord!! I wonder what the investors' after tax returns were. At least Buffet found a tax efficient way to do it.

Edited to Add: Opps.. I missed the "realized gains" part.

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Old 01-31-2008, 12:47 PM   #4
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Bassett looks kind of interesting. It has followed XHB down due to the housing wreck. Should be fun to figure out if it's a leading or trailing indicator for housing.
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Old 02-01-2008, 02:12 PM   #5
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When I saw that article, I did a simple "cigar butt" screen. One stock that intrigued me was ACAT. They make snow mobiles and ATVs, but they've been beat up to the point that they're trading below book with no debt.

Unfortunately, I decided to just watch for a couple of days instead of buying. They're up 25% in just a few days. The stock still seems to have lots of momentum and is still below book value.
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