and he had done it for 47 years (maybe not every year, but compound annual return), that’s pretty good.
The following is quoted from Buffett 2006 shareholder letter, you can get the full letter at Berkshire web site:
Let me end this section by telling you about one of the good guys of Wall Street, my long-time friend Walter Schloss, who last year turned 90. From 1956 to 2002, Walter managed a remarkably successful investment partnership, from which he took not a dime unless his investors made money. My admiration for Walter, it should be noted, is not based on hindsight. A full fifty years ago, Walter was my sole recommendation to a St. Louis family who wanted an honest and able investment manager.