Sometimes it's just that simple. Bernard Klawans, a 89-year-old former aerospace engineer manages a mutual fund single-handedly and has reportedly outperformed some of the best in the business.

U.S. News & World Report's Ben Baden reports that Klawans, who has never had any formal training in money management or finance, has returned almost six percent on an annualized basis over the past 10 years via his Valley Forge fund, landing it in the top five percent of all large-cap value funds during that time period.

During the same period, the S&P 500 has reportedly lost about one percent. Klawans performance prompted Morningstar's vice president of research John Rekenthaler to say that Klawan "has made the pros look like chimps over the last decade".

So how does the former aerospace engineer do it? Klawans, who doesn't believe formal training is necessary to become a mutual fund manager, reportedly employs a conservative investing style to make his bets. He only invests in well-known names, such as his former employer GE, and is not afraid to pull money out of the market if it is tanking.

Valley Forge's assets are reportedly approaching $15 million and it brings in estimated inflows of some $500,000 per month. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE