The 3 Investing Rules of a Billionaire Family

Motley Fool

During the second half of the 20th century, Larry Tisch and his brother, Bob, turned an investment in a New Jersey resort hotel into a multibillion-dollar conglomerate -- Loews (NYSE: L). How did they do it?

Larry, the financial mastermind, had a knack for spotting value. In 1960, the brothers took control of Loews, at that time a major movie-theater chain. But they were less interested in the movie theaters themselves, and more enticed by the real estate on which those theaters stood.

Loews is now a $10 billion company comprising insurance, hotels, and offshore oil and gas. Larry's son, James Tisch, the current CEO, recently reflected on the guiding principles on which Loews was built. Read More...