General American Investors Company

Type| Closed-end fund

Traded as

| NYSE: GAM
Industry| Investment
Founded| 1927; 99 years ago (1927)
Founders| Lazard Frères and Lehman Brothers
Headquarters|

New York City

United States

Key people

| Spencer Davidson (President)
Products| Investment fund
Website| generalamericaninvestors.com

The General American Investors Company, Inc. is a closed-end fund that manages a global portfolio of investments, consisting mainly of United States securities, and also some international and private securities.[1]

## Contents

* 1 History
* 2 Leadership
* 2.1 Chairmen of the General American Investors Company
* 2.2 Presidents / Portfolio Managers of the Fund
* 3 References

## History

The General American Investors investment trust was launched in 1927 under the sponsorship of Lazard Frères and Lehman Brothers.[2] In its first year of operation, it earned $1.1 million.[2] In September 1928, Lazard Frères and Lehman Brothers launched a second fund, named the Second General American Investors Company.[2] In August 1928, the two funds merged, to form the current General American Investors Company, with Lazard Frères and Lehman Brothers underwriting the $40 million deal.[2]

The early years of the Great Depression were difficult for the fund, but the fund recovered as the 1930s progressed.[2] The fund had assets valued at $15 million in 1932; at $23.1 million in 1933; and $30.1 million in 1935.[2] Assets dropped to $24.7 million in 1937; $30 million in 1939; then dropped to $25.5 million in 1943; dropping slightly to $25.3 million in 1945.[2]

## Leadership

### Chairmen of the General American Investors Company

* Frank Altschul, 1948-1961[1]
* Arthur G. Altschul, 1961-1995
* Lawrence B. Buttenwieser, 1995-2007
* Spencer Davidson, 2007–Present

### Presidents / Portfolio Managers of the Fund

* Frank Altschul, 1927-1948
* Harold F. Linder, 1948-1955
* Harry G. Friedman, 1955-1961
* Malcolm B. Smith, 1961-1989
* William J. Gedale, 1989-1995
* Spencer Davidson, 1995–Present

## References

1. ↑ 1.0 1.1 "About Us overview". General American Investors. https://generalamericaninvestors.com/about/company-overview. Retrieved October 29, 2024.
2. ↑ 2.0 2.1 2.2 2.3 2.4 2.5 2.6 Harvard Business School Profile of the General American Investors Company

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