"We are cowards." That's how Marty Whitman, the octogenarian dean of deep-value investors, describes himself and his colleagues at the firm he founded, Third Avenue Management.
Why? Simple, Whitman explains: "We hate to lose money."
One of the best, Whitman believes, is Philadelphia-based mortgage insurer Radian Group (Charts). The company has already announced heavy losses related to investments in the subprime mortgage market.
He increased his long-held stake in urban developer Forest City Enterprises (Charts).
Another pro Whitman admires is 42-year-old J. Bruce Flatt, who, Whitman says, has been described as Canada's Warren Buffett. Flatt runs Brookfield Asset Management (Charts), a Toronto-based firm.
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Why? Simple, Whitman explains: "We hate to lose money."
One of the best, Whitman believes, is Philadelphia-based mortgage insurer Radian Group (Charts). The company has already announced heavy losses related to investments in the subprime mortgage market.
He increased his long-held stake in urban developer Forest City Enterprises (Charts).
Another pro Whitman admires is 42-year-old J. Bruce Flatt, who, Whitman says, has been described as Canada's Warren Buffett. Flatt runs Brookfield Asset Management (Charts), a Toronto-based firm.
Read the complete article
