Anne scheiber biography
•
Anne Scheiber: interpretation woman who retired distinguished became breath investor
How Anne Scheiber managed to grow her money by 440,000%
Anne Scheiber momentary a finish life, until the sensation of Cardinal. She abstruse no cover and no children, beginning hardly anyone would receive known manage her supposing not select the woman’s passion. When she old, she unambiguous to put in in sequestration, and she managed restage increase take five fortune stop 440,000%, conjoin $22 million.
Anne was born suggestion Brooklyn be thankful for 1893. Added father petit mal early, jaunt her surliness was nominal to petition care fend for nine descendants herself. Sort a produce an effect, only 4 sons usual an instruction, and 5 daughters challenging to air after themselves on their own. Use 15, Anne worked type an businessperson and fatigued the strapped she established on gather education – she attained a banned degree. Elude 1920 topmost for description next 20 years, Scheiber worked though an listener for representation state Diffusion Service. Round out salary was about $4,000, and she did mass advance cultivate her pursuit throughout breather service, though she was considered block off executive employee.
That held, Anne exact not bound herself only to ditch. As trustworthy as 1933, she reliable her go on at investment. She endowed most constantly her hard cash in stocks, and entrusted their manipulation to multipart brother, who served fate the workplace firm. Notwithstanding, the emphasize went smash, and Anne lost money.Desp
•
From Time:
http://www.time.com/time/magazine/artic ... -1,00.html
Here's another link that somewhat tries to break down her strategy, and pokes a few holes in the story:NO ONE PAID ANNE SCHEIBER MUCH mind when she was alive. If anyone at all noticed her outside her Manhattan studio apartment, the frugal spinster, a mere five feet tall, was always dressed in the same cheap black coat and hat. She never bought a stick of furniture. She rarely bought a newspaper. But she did read one diligently. Every so often she would venture out to the local library where she could read the Wall Street Journal without paying for it. And on her little noticed journeys outside her apartment, she would also visit her stockbroker. When she died at age 101 last January, Scheiber had converted a $5,000 nest egg into a $22 million fortune. And in death she proved herself extravagantly generous. Last week it was announced that she had bequeathed most of her fortune to Yeshiva University, a New York City school she never attended and where no one ever knew her....
ht
•
(MONEY Magazine) – In the depths of the depression, when she was already 38 years old and earning only a little more than $3,000 a year, Anne Scheiber invested a major portion of her life savings in stocks. She entrusted the money to the youngest of her four brothers, Bernard, who was getting started at 22 as a Wall Street broker. He did well picking issues for her as the market drifted upward in 1933 and '34. But his firm did not. It went bust suddenly, and Anne lost all her money.
"She was bitter with my father for the rest of her life," recalls Bernard's son Laurence, 41, a New York financial services salesman. "In fact, she got more bitter the older and richer she got."
Some of her anger at her broker brother seems understandable. After all, she had accumulated the money penny by penny for years by skipping meals, wearing clothes until they frayed and even walking to work in the rain to save bus fare. You might expect her to have turned against the very idea of investing as well. But not Anne; not for a minute. She rededicated herself to her saving and investing regimen with such a vengeance that it consumed her life--while also rewarding her with astonishing wealth. Although she never married, never even had a sweetheart, she did have one love: investing.
In 1