Marty Whitman, chairman of Third Avenue Management
, is a bottom-up, value-oriented investor. He seeks companies with strong finances, competent management, and easily understandable businesses. He is also a long-term, buy-and-hold investor who buys companies selling at a discount to inherent value. He has a 91.5 10-year cumulative return, versus 16.4% for the S&P.
He initiated one new position and added to two existing positions in the quarter ended Oct. 31, 2011: Hutchison Whampoa Ltd. (HUWHY.PK
), Tellabs Inc. (TLAB
) and Applied Materials Inc. (AMAT
). Continue Reading »