Walter Schloss was one of Benjamin Graham’s most successful students. From 1955 through 2002, Schloss returned 16% per annum, according to his own figures, successfully using Benjamin Graham’s net-nets strategy to outperform the market for five decades.
Walter Schloss didn’t give many interviews over his career, but he did write a number of memos and letters to various publications over the years.
Walter Schloss’ lectures were also recorded, and below are a number of excerpts from Schloss’ lecture titled “Why We Invest the Way We Do”. Schloss delivered this lecture on May 16 1996 at the Behavioral Economic Forum at the Harvard Faculty Club in Cambridge, Massachusetts.
Below are some excerpts from the text followed by the...

