CNBC had an interview with Marty Whitman, founder of Third Avenue Management, on Sept. 7, 2007. Whitman shares his investment strategy with CNBC's Sue Herera.
Here is Marty's points:
- Bottom-up, fundamental analysis.
- Buy & hold for the long term.
- The macro-market environment has never influenced the process by which we select investments.
- Stock market downswings and difficulties in rolling over paper will not impact safe and cheap investors - especially those who invest in companies that finance themselves.
- Over-leveraged investors, and those who have not been setting aside cash, will not be able to participate in the value opportunities that the correction is creating.
- In the midst of this credit crisis, the current situation seems to present an attractive buying opportunity.
- We focus on investment risk, not market risk.
*You can also read Third Avenue's latest report - Third Avenue 2007 Q3 Letter to Shareholders.
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