99-year-old Wells Fargo broker passes away

Wells Fargo Advisors’ oldest broker and noted stock picker Oliver M. Langenberg of St. Louis died Wednesday.
Mr. Langenberg reportedly passed away five days after suffering a compression fracture in his spine during a fall. His family today hosted a memorial service at the Episcopal Church of St. Michael and St. George in Clayton, Mo.
A senior vice president at Wells Fargo Advisors, Mr. Langenberg had spent 51 years at the firm, joining in 1961 at 49 when it was still A.G. Edwards & Sons Inc.
He was a senior strategist at A.G. Edwards when Gary Thayer, now chief macro strategist at Wells Fargo Advisors, came on board. The men would meet on weekly basis and chat about market and economic developments.
Even in today’s tumultuous times, Mr. Langenberg was able to find potential opportunities. He counseled the firm’s strategists to keep a cool head during volatile markets and hunt for true value when searching for stock picks, Mr. Thayer said.

“He was always optimistic, always looking for good opportunities and value — that’s what made him a successful analyst and investor,” he added.
Indeed, Mr. Langenberg’s career spanned over major technological advances in the ways brokers ended up doing their business, but he was never fazed by the developments.
“You would think he was set in his ways,” My. Thayer said, “but he always found new companies and new things that were happening with modern technology and the internet.”
Though Mr. Langenberg’s 100th birthday was around the corner, he still went to work on a regular basis.
“One of the people at the service said it was unfortunate that his life was cut short at 99,” Mr. Thayer added. “He was living strong to the end.”

Related Topics: Wells Fargo & Co.