rszutu604 Posted February 17, 2009 Posted February 17, 2009 The latest Third Ave letter from Marty Whitman & co is now available at: http://www.thirdave.com/ta/documents/sl/shareholderletters-09Q1.pdf Both Whitman and his successor, Ian Lapey, have made substantial investments in their flagship mutual fund. A class act to disclose this information. Within the portfolio, they've been finding a lot of net-net asset opportunities. Their approach is a modification of Graham & Dodd's. A very nice read.
frog03 Posted February 17, 2009 Posted February 17, 2009 Thanks. Marty's performance over the life of his flagship mutual fund (Third Avenue Value Fund) is not that exciting. A taxable investor would most likely have lagged an index fund... This is a reminder how incredibly good Buffett is with his 50+ years of killing any and all indexes.
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