This is the first of a multi-part series on Shelby Cullom Davis, value investor, philanthropist and founder of Davis Selected Advisers.
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Shelby Davis -- Part one: An unknown great
Like the majority of the great value investors, Shelby Davis is relatively unknown outside value circles. But his performance over the years is as good as, if not better than many of the Superinvestors of Graham & Doddsville.
Just like Warren Buffett, Shelby Davis’ area of expertise was insurance, and this is where he built his fortune. By the early 1950’s, Davis had become a millionaire by investing in insurance stocks at low multiples. This...

