Edgar Wachenheim III (born 1937) is an American
investor
An investor is a person who allocates financial capital with the expectation of a future Return on capital, return (profit) or to gain an advantage (interest). Through this allocated capital the investor usually purchases some species of pr ...
and
CEO
A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization.
CEOs find roles in variou ...
and
chairman
The chair, also chairman, chairwoman, or chairperson, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the gro ...
of Greenhaven Associates. He founded that investment company, a former branch of
Central National-Gottesman, in 1987 and has worked there since as CEO. Greenhaven Associates had reported
assets under management
In finance, assets under management (AUM), sometimes called fund under management, refers to the total market value of all financial assets that a financial institution—such as a mutual fund, venture capital firm, or depository institutio ...
worth $9.3 billion in January 2024.
CNBC
CNBC is an American List of business news channels, business news channel owned by the NBCUniversal News Group, a unit of Comcast's NBCUniversal. The network broadcasts live business news and analysis programming during the morning, Day ...
reported Wachenheim's firm had an average annual
return
Return may refer to:
In business, economics, and finance
* Return on investment (ROI), the financial gain after an expense.
* Rate of return, the financial term for the profit or loss derived from an investment
* Tax return, a blank document or t ...
before fees of about 19 percent between 1988 and 2017.
Wachenheim wrote a book about his career and investing methods called ''Common Stocks and Common Sense'', published in 2016. A second edition was published in 2022. His investment strategies can be described as