ウォルター・シュロスは、ウォーレン・バフェットの講演「グレアム・ドッド村の大投資家たち」で紹介されたファンド・マネージャーです。バフェットと共にグレアムのパートナーシップで働いていた経歴を持つ大ベテランです。バフェットやチャーリー・マンガーとは投資方針が異なりますが、見事な実績を残しています。今回はバフェットの伝記「The Snowball: Warren Buffett and the Business of Life」から個人的に気に入っている箇所を引用します。シュロスが独り立ちしようとする場面です。(手元に邦訳がないため、日本語は拙訳です。誤訳がありましたら、後ほど訂正します)



Walter Schloss was not invited to events like these. He had been pigeonholed as a journeyman employee who would never rise to partnership. Jerry Newman, who rarely bothered to be kind to anyone, treated Schloss with more than his usual contempt, so Schloss, married with two young children, decided to strike out on his own. It took him a while to get up the nerve to tell Graham, but by the end of 1955 he had started his own investment partnership, funded with
$100,000 raised from a group of partners whose names, as Buffett later put it, “were straight from a roll call at Ellis island."

Buffett was certain that Schloss could apply Graham’s methods successfully and admired him for having the guts to set up his own firm. Though he worried that “Big Walter” was starting out with so little capital that he would not be able to feed his family. Buffett put not a dime of his own money into Schloss’s partnership, just as he had not invested in Graham-Newman. It would be unthinkable for Warren Buffet to let someone else invest his money.

シュロスの横顔、今では90歳代半ばのはず。「The Snowball」からお借りした画像です。

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