[From The Archives] 1970 Barron's Interview With Roy Neuberger — Part 1

Roy Neuberger was one of Wall Street earliest and most successful proponents of hedged investing. Like many of the great investors of the last century, Roy Neuberger arrived on Wall Street in the late 1920’s and was able to experience the 1929 crash first hand. This experience taught Roy Neuberger how important it was to invest with a long-term view.

During 1939 that Roy Neuberger co-founded Neuberger Berman, with a focus on wealthy individuals. The firm still exists today and recently acquired the Merrill Lynch private equity funds of funds.

Roy Neuberger was a traditional value investor. He looked for undervalued and out-of-fashion stocks, as opposed to growth situations. His approach to buy at low multiples helped hedge the...