I’ve written before that, to succeed at investing, you do not to be a credentialed individual. You don’t need an MBA. In some cases, you don’t even need a college education. No investor proved that notion more thoroughly than Walter Schloss—a man who never attended college, but very well could be the most underrated investor of the 20th century.
Schloss’s record speaks for itself: he compounded wealth at a rate of 15-16% (and that is the figure after you remove the fees he charged) from 1952 to 2002, during a time at which the broader American stock market indices increased at a clip slightly above 10%. Despite this enormous success, the closest … Read the rest of this article!