Third Avenue's Amit Wadhwaney - How Do Good and Financially Sound Companies Become Cheap?
What he will not buy is a depressed company in an industry with limited barriers to entry.
Wadhwaney is happy to "drop anchor" and hold a company for three to five years. In fact if he isn't happy to own a company for three to five years it is likely not something he should own.
In the video below he explains how he finds sound companies that have become cheap: