Davis was born in Peoria, Illinois, and graduated from Princeton in 1930. He then did postgraduate work at Columbia and the University of Geneva. He had several successful careers as a foreign correspondent for CBS and as an adviser to Thomas Dewey, the then governor of New York.
After briefly working as an insurance commissioner, he bought a seat on the New York Stock Exchange for $33,000 and set up his own brokerage firm, Shelby Cullom Davis & Company in 1947. He worked there until his death at the age of 85 in 1994.
What was his strategy?
He also believed in interviewing management to see whether the companies were well run and avoiding any insurers who held risky assets. Ironically, he frequently took on a lot of debt himself, using credit to buy stocks while only putting down half the upfront cost.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Did this work?
What were his biggest successes?
What lessons can investors take from his success?
-
Coventry Building Society bids £780m for Co-operative Bank - what could it mean for customers?Coventry Building Society has put in an offer of £780 million to buy Co-operative Bank. When will the potential deal happen and what could it mean for customers?
-
Review: Three magnificent Beachcomber resorts in MauritiusMoneyWeek Travel Ruth Emery explores the Indian Ocean island from Beachcomber resorts Shandrani, Trou aux Biches and Paradis
