From The Archives: Walter Schloss In Defense Of Stock Dividends

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.   Walter Schloss followed Benjamin Graham’s cigar-butt style of investing throughout his five-decade long career on Wall Street. From 1955 to 2002 — when he stopped managing money — by Schloss’ estimate, his investments returned 16% per annum on average after fees, compared with 10% for the S&P 500 over the period. Even today, Walter Schloss’ deep value philosophy remains relevant. His common sense approach to investing provides a road map…