Max Heine “Getting A Dollar For 50 Cents”

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Rupert Hargreaves
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Max Heine was one of the great underappreciated value investors. After emigrating to New York during 1934, he immediately entered the securities business, and 15 years later he founded the Mutual Shares Corporation, one of the world’s first open-ended mutual funds. Heine’s strategy was simple; buy undervalued stocks targeting a 15% annual return, despite market fluctuations. But his activities weren’t just limited to stocks. Mutual Shares Corporation was more of a hedge fund by today’s standards. Through a blend of arbitrage, shareholder activism, distressed investing, spinoffs, Mutual Shares was the only funds to earn a positive return during the 1973/74 bear market. Max Heine…

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Sign up now and get our in-depth FREE e-books on famous investors like Klarman, Dalio, Schloss, Munger Rupert is a committed value investor and regularly writes and invests following the principles set out by Benjamin Graham. He is the editor and co-owner of Hidden Value Stocks, a quarterly investment newsletter aimed at institutional investors. Rupert owns shares in Berkshire Hathaway. Rupert holds qualifications from the Chartered Institute For Securities & Investment and the CFA Society of the UK. Rupert covers everything value investing for ValueWalk