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Martin Whitman: Top-performing manager, 81, keeps working

January 08, 2006
Martin Whitman, the manager of the Third Avenue Value Fund, hired Curtis Jensen in 1995 as a successor. More than a decade later, the 81-year-old Whitman hasn't set a retirement date, and his mutual fund was on pace last month to outperform the Standard & Poor's 500 index for a sixth consecutive year.

Investments in Brookfield Asset Management, the owner of Manhattan's World Financial Center, and Toyota Industries, a builder of cars for Toyota, helped the fund climb 15.3 percent last year, as of Dec. 7, nearly triple the S&P 500 index.

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