Lessons Learned

Bergman, who stopped visiting the office in December and turns 100 in August, attributed her longevity to good genes, not any special diet. She says she stayed physically fit by riding dressage horses until she was 80 and mentally sharp by forgoing retirement. Bergman speaks with Stralem colleagues daily and talks with some clients every week.

Recessions, Depressions
“She’s been through multiple business cycles, ups and downs, recessions, depressions, and has a good feeling for where things are going,” says George Falk, a doctor of internal medicine in private practice in Manhattan. “She understands what my needs are, has my interests at heart, and is not primarily interested in making a lot of money off of me. I have a great deal of trust in her.”

Bergman has Falk, 75, invested 100% in U.S. Treasurys.

Her family’s post-war experience informs her advice today. Because it took a decade after coming to New York for Bergman to recover her family’s wealth, which was frozen by U.S. and Dutch authorities, she emphasizes the importance of safeguarding funds.

One bright spot for today’s investor is the ability to sell large blocks of stock quickly, Bergman says. Years ago, it would have taken Stralem weeks to execute a large order. Now it takes hours or days.

At the same time, speed has “great disadvantages,” she says. “People trade who shouldn’t be, or they do something too fast.”

Her caution has translated into loyal clients, according to Philippe Labaune, head of trading at Stralem, who says that in almost 20 years at the firm, he’s never seen her lose an account. Though some did close when their owners died.

Missed Opportunity
“In this business, you have to get the confidence of your clients,” Bergman says. “You don’t have your clients for three weeks, you have them for at least three years. It takes that long to know if you’re doing a good job.”

Customers appreciate that she has her own wealth. “They had the feeling that I didn’t need to churn their accounts because I had money myself,” she says.

Bergman does recall one investment she let slip away: Apple Inc.

“I missed Apple totally,” she says. “Apple was too much for me.”

That brings her to another tip: Make your own decisions.

“I always like to do what I want to do, then it’s my fault,” she says. “I can’t blame anyone else.”