When I started working in the mid 90’s, this was one of the companies I used to follow closely. Neuberger Berman was founded in 1939 and its legendary founder Roy Neuberger was working on a daily basis at the age of 99 (he lived 107 years).
The legendary old investor’s „rules of investing” were the following:
- Be flexible. It is imperative that you be willing to change your thoughts to meet new conditions.
- Take your temperament into account. Recognize whether you are by nature very speculative or just the opposite.
- Be broad-gauged. Diversify your investments, make sure that some of your principal is kept safe, and try to increase your income as well as your capital.
- Always remember that there are many ways to skin a cat. Each [great investor] has been successful in his own way.
- Be skeptical. To repeat a few well-worn useful phrases: Dig for yourself. Be from Missouri. If it sounds too good to be true, it probably is.
The company was acquired by Lehman Brothers, and almost disappeared after Lehman’s bankruptcy, but it’s back again.
This interesting story of Neuberger Berman came from Fortune magazine (Sept 12-2012)