Requiem for a Superinvestor
It's been a tough month for the value-investing community. Two members of the original "superinvestors" that Warren Buffett wrote of in his now-famous Hermes article, "The Superinvestors of Graham-and-Doddsville," passed away recently.
Ed Anderson was a partner at Tweedy Browne from 1960s to the early 1980s, during which time the firm built an enviable record investing in asset and earnings bargains. The value of the approach was proven during the difficult market of the 1970s. The firm had just one down year in that volatile and dangerous decade, with a loss of a little less than 2% as the decade opened. Over the span of Anderson's career at the value-investing firm, it earned 16% compared with just 7% annually for the broader market. He retired in 1983 to pursue charitable and intellectual interests, including behavioral science and education....638 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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