Legendary Money Manager Dies at 107
Roy Neuberger died over the weekend at 107. Maybe Warren Buffett isn't so old after all. Since Roy was already in his 90s when my financial career began, I'm not as familiar with his work, but he has an impressive track record that naturally can't be topped by living to that ripe age. Considering he was a value investor maybe there is something to that way of investing that leads to a longer, happier life. Less worries about market swings and volatility. The Net Payout Yields portfolio attempts to follow that trend, but the rest of our portfolios are very volatile. Maybe we should adopt that philosophy. Sure would be less stress, but maybe not as much fun. Anyway, just thought it was interesting that a pioneer in the supposedly stressful area of money management survived the stresses of the market for that long. Even more interesting is that at the ripe age of 105 he supposedly helped a Neuberger partner plow money into the market at the bottom of the financial crisis i...