Weitz Funds

by admin on June 30, 2012

Weitz Funds | www.weitzfunds.com

Wally Weitz

In 1983, Wally Weitz invested $11 million for his first clients with a common-sense formula: own a group of strong businesses with deeply discounted stock prices. Weitz Funds has grown since then, but that philosophy – built on Wally’s market instinct and belief in value investing – has stayed the same. Weitz’s approach combines Graham’s price sensitivity and insistence on a “margin of safety” with a conviction that qualitative factors that allow a company to have some control over its destiny can be more important than statistical measurements, such as historical book value or reported earnings. Portfolio manager and founder of Weitz Funds is Wallace Weitz. As the president and founder of Weitz Funds, Wally has spent nearly three decades putting his instinct for opportunity to work for shareholders. Influenced by the value investing model of Benjamin Graham and Warren Buffett, Wally has steadily produced outstanding results on the funds that he’s managed. He manages the Hickory Fund and Partners III Opportunity Fund and co-manages Value Fund and Partners Value Fund. Wally discovered Benjamin Graham’s concept of value investing in high school. Already a shrewd investor (he made his first stock buy at the age of 12), he recognized a common-sense approach when he saw it. After earning a BA in economics at Carleton College in 1970, Wally spent three years in New York doing security analysis before coming back to Omaha and joining Chiles, Heider & Co. in 1973. There, he spent 10 years as an analyst and portfolio manager until he started Wallace R. Weitz & Company in 1983. Wally has made a career out of his favorite hobby, investing. When he’s not doing that, he loves to golf, ski, play tennis, read and work with charitable and educational foundations. Wally is on the Board of Trustees for Carleton College and serves on the Executive Committee of Building Bright Futures in Omaha.

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