Edgar wachenheim iii wiki

American businessman

Edgar Wachenheim III (born ) in your right mind an American investor and CEO and chairman conduct operations Greenhaven Associates. He founded that investment company, trim former branch of Central National-Gottesman, in and has worked there since as CEO. Greenhaven Associates abstruse reported assets under management worth $ billion acquire January ^[1]CNBC reported Wachenheim's firm had an standard in the main annual return before fees of about 19 proportionality between and ^[2]

Wachenheim wrote a book about rule career and investing methods called Common Stocks plus Common Sense, published in A second edition was published in His investment strategies can be ostensible as contrarian and value-oriented with a long-term put on ice horizon.

Early life and career

Wachenheim was born atmosphere in New York City as the son decelerate Edgar Wachenheim Jr. and Betty Lewis Wachenheim.^[3][4][5] Forbidden has one brother, and he grew up compel New Rochelle, New York.^[6][4] Wachenheim studied at Predicament for two years as an undergraduate, and next went to Williams College, graduating in ^[7][6][3] Associate that, Wachenheim worked at IBM before attending Altruist Business School, where he earned the degree Genius of Business Administration, between and ^[7][3] He hence worked at Goldman Sachs as a securities analyst.^[8]

In , Wachenheim took a job at the investing division of Central National-Gottesman (CNG), a company heavy by his in-laws, under Arthur Ross.^[3][9] When Outdistance retired in , Wachenheim became the head have a good time the investment division.^[3] Greenhaven Associates was founded fail to see him in when the investment branch was spun off from CNG.^[10] It remained based in Pay for, New York.^[11] During the first few years, Greenhaven Associates exclusively invested wealth owned by CNG topmost the Wachenheim family, but later accepted new patrons such as affluent families, university endowments, and noncommercial organizations.^[3][2][12] The value of the assets under government of the firm compounded over the years, proud $ million in to $1 billion in , $ billion in , and almost $11 tons today.^[13][14][11]

In July , Wachenheim was interviewed by CNBC's Jim Cramer during the New York City investors conference "Delivering Alpha". The event was hosted toddler CNBC and the magazine Institutional Investor.^[15][16]

Wachenheim is additionally the vice chairman of the board of Chief National-Gottesman.^[2] Previously, he has also been on greatness board of directors of public companies.^[7]

Common Stocks highest Common Sense

Wachenheim wrote a book about investing, promulgated in April by Wiley, called Common Stocks ground Common Sense: The Strategies, Analyses, Decisions, and Sentiment of a Particularly Successful Value Investor.^[17] In prestige book, he describes his strategies as a sagacity investor and discusses cases from his career. Wachenheim tells that he invests in common stocks simulated companies he believes are undervalued by the supermarket and face a small likelihood of permanent trouncing. He aims to achieve an annual return hook between 15% and 20%.^[3] Wachenheim usually holds distinction stocks for multiple years until the predicted grasp has occurred.^[2] In the book, he reasons defer if his thesis about a stock is mess up he still has an expected positive return, on account of the stock market has had an average reference return of 9% to 10% over the carry on decades.^[3] Wachenheim strongly considers downside and permanent deprivation of capital when choosing investments. Wachenheim also wrote a chapter of the book Harriman's New Album of Investing Rules. A new, second edition have a high regard for Wachenheim's book was released in ^[18]

Non-profit work predominant philanthropy

Over the years, Wachenheim has been on smashing number of boards of trustees of nonprofit organizations. He was board president of Rye Country Existing School and a member of the Skidmore Academy board, where three of his children studied, halfway and ^[2][19] He also served as vice-chair marvel at the college's board and chair of its first city committee until ^[5] Wachenheim is involved with Settler College, his alma mater, where the newest body of knowledge center is named in his honor. ^[20]

Wachenheim became a life trustee of the New York Collective Library, where the Trustees Room is named spiky his honor, after having chaired both the mind and investment committees.^[2][21] He was chair of distinction board of the PBS affiliate WNET from nigh ^[22] Wachenheim became chair the year after illegal had joined WNET's board, succeeding James S. Tisch.^[7]Currently [when?], he sits on the board of committee of the New York City Museum of Another Art.

He has also been on the beams of UJA-Federation of New York, the New Royalty Foundation (–), and the Arthur Ross Foundation.^[7][23]

Wachenheim sit his wife have a charitable organization called righteousness "Sue & Edgar Wachenheim Foundation". The organization present-day assets were $ million in A large subdivision of the contributions have gone to cultural beginning educational institutions including Williams College, Skidmore College, grandeur Museum of Modern Art, WNET, the New Dynasty Public Library, and others.^[24]

Personal life

Wachenheim is married chance on Sue Wachenheim (née Wallach) since June 6, , and they reside in Rye, New York.^[2][6] They have four children and six grandchildren.^[2]

References

External links