LOS ANGELES — LOS ANGELES - In the typical Arnold Schwarzenegger movie, the star almost always triumphs, but not without averting a series of catastrophes.
So far, it seems, that is not how Schwarzenegger, the candidate for governor, likes to manage his personal finances.
According to state records and interviews with investment advisers, Schwarzenegger appears to be decidedly tamer than his on-screen persona would indicate when it comes to his own money, amassing a fortune by cutting movie deals, buying real estate and taxable bonds and hiring money managers to invest his fortune.
His investments - to the degree they were made public by the Fair Political Practices Commission this month - do not reveal any unusual business sophistication. What they do show is that throughout his career Schwarzenegger has relied on experts to advise him, something he has already done in his new political career by calling upon investor Warren E. Buffett, whom friends say he depends on less for stock tips than economic advice.
When Schwarzenegger hired an investment manager in the mid-1990s, for instance, he turned to Paul Wachter, a former Wall Street banker.
Schwarzenegger declined a request to be interviewed about his finances. But since the mid-1990s, he has depended on Wachter, who said they met in 1981 when Wachter was a law clerk in Los Angeles and worked with Bobby Shriver, brother of Maria Shriver, who is now Schwarzenegger's wife.
Wachter said Schwarzenegger's money was invested with more than 10 money managers who buy companies with consistent management and growth potential.
Schwarzenegger's portfolio is full of blue-chip stocks. Wachter said the movie star also has a sizable portfolio in other investments, including income-producing bonds.