Sunday Schloss #5

This weeks Sunday Schloss comes from the NYSAA's dedication to him on February 4th 2008:
Excerpts-
On investing:
"I dont like debt (emphasis added)."
"What I usually did was get companies that were having troubles, and the stock market doesn't like trouble."
"Buy assets rather than earnings."
"[Walter] urged the audience to avoid debt at least four times."
"The volatility of assets is much lower than that of earnings providing Mr. Schloss with stability in valuation"
"[I] also prefer that management of the company owned a decent amount of stock."

On his partnership:
"He relies extensively on Value Line"
"His average turnover is 25% implying a holding period of four years."
"[Walter] only provided investors with quarterly statements, an audit, and a letter to partners.
"[Walter] ran his partnership on ultra low expenses"

NYSAA Website

Scrbid:
Schloss-2.408

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