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The Best Investing Story Ever

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  • The Best Investing Story Ever

    I just read this story:  Dr. Howard Marcus died in 2014 at age 105, and his wife Lottie died at age 99 a year later. They retired to a one bedroom condo in San Diego.  They always flew coach.

    He had been a dentist in Germany, and fled to the US in the 1930's.  Most of his immediate family were gassed by the Germans.  In NY he opened a dental practice, and he met and married  Lottie, whose family had also died in German concentration camps.  At the time she was working as a secretary on Wall Street.  The couple was friendly with a Wall Street investor Lottie knew from work, and they asked him for investment advice.  He referred them to a young protoge' of his who was just starting out. They invested with him.

    You can probably guess the rest.  Lottie's friend was Benjamin Graham.  He sent them to a young Warren Buffet.  They left a $400 million bequest to a university, in addition to other charitable contributions they had given in their lifetime.

     

  • #2
    What a great story! Lottie and Howard are an inspiring couple and they certainly had good judgement in who to choose as a financial adviser!

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    • #3


      What a great story! Lottie and Howard are an inspiring couple and they certainly had good judgement in who to choose as a financial adviser!
      Click to expand...


      The problem is knowing in advance if your adviser is Warren Buffet or Bernie Madoff.

      That's why I do it myself, although I more or less follow Mr. Buffet's advice: the Total Market Index fund.

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      • #4
        Almost as interesting - Benjamin Graham fell in love with Lottie (before Dr. Marcus) and proposed to her! He was 20 years older and she turned him down but they remained friends.
        Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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        • #5
          Yes, if you Google you can find more articles.  There's Dr. Marcus's  obituary, plus an interview with them both before they died.  They were survived by one child and one grandchild.  There's no mention I could find of what, if anything, was passed down to the heirs.

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          • #6




            Almost as interesting – Benjamin Graham fell in love with Lottie (before Dr. Marcus) and proposed to her! He was 20 years older and she turned him down but they remained friends.
            Click to expand...






            Yes, if you Google you can find more articles.  There’s Dr. Marcus’s  obituary, plus an interview with them both before they died.  They were survived by one child and one grandchild.  There’s no mention I could find of what, if anything, was passed down to the heirs.
            Click to expand...


            Thanks for more details on this sweet story Johanna and AlexxT. How interesting that Benjamin Graham was in love with Lottie! I googled them and Dr Marcus and Lottie look so cute in their picture. This story would make a great movie.

            You are so correct Alexx, you never know if your adviser will be Warren Buffet or Bernie Maddox. Safer to learn the ropes and do it yourself. But if you are lucky enough to encounter a young Warren Buffett- well, we see the results and this wonderful couple have certainly enriched the world as a result. Fantastic story!

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            • #7





              What a great story! Lottie and Howard are an inspiring couple and they certainly had good judgement in who to choose as a financial adviser! 
              Click to expand…


              The problem is knowing in advance if your adviser is Warren Buffet or Bernie Madoff.

              That’s why I do it myself, although I more or less follow Mr. Buffet’s advice: the Total Market Index fund.
              Click to expand...


              Ditto!

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