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Rating:Tom Russo Wins Slowly and Steadily Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, May 03, 2010

Tom Russo Wins Slowly and Steadily

News summary by MFWire's editors

When it comes to buy-and-hold, Tom Russo may be the king. The managing partner at Gardner Russo & Gardner is the subject of today's Fund Track column in the Wall Street Journal.

Russo manages about $4 billion. He bought into Berkshire Hathaway in 1983 and Nestlé in 1988, his two biggest holdings, and has no plans of unloading them soon.

"My trader may be the loneliest man on Wall Street," he told the WSJ. "We are not Wall Street's closest friend, because we've generated so few commission dollars."

According to the article, in a busy year Russo will pay $1 million in brokerage commissions on his $4 billion portfolio.

Russo's third-largest holding is Philip Morris International, which together with Berkshire Hathaway and Nestlé, makes up about a third of his holdings. 

Edited by: Daniel Tovrov


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