Ralph Wanger was born in Chicago in 1933. After studying management at Massachusetts Institute of Technology, he joined the army in 1955. He then became a securities analyst with Harris Associates in 1960. His big break came when he was put in charge of the new Acorn Fund in 1970. He took the fund into his own asset management company, Wanger Asset Management, in 1992. Wanger retired from day-to-day investment management in 2003, but he continues to offer advice to his company.
What was his strategy?
Wanger wasn't willing to pay for growth at any price, only investing if the company was also cheap relative to its earnings and assets. He also believed in investing in companies that were easy to understand.
Did it work?
What was his best investment?
What lessons can ordinary investors take from him?
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