5th Annual Whitman Day: Breakfast Panel with Martin Whitman and Richard Haydon

Collectively, Martin J. Whitman ’49 BS and Richard Haydon ’66 BA (A&S) have a century of Wall Street experience—and that fact is evident in the wisdom and insight revealed in this wide-ranging panel discussion. Whitman, founder and co-chief investment officer of Third Avenue Management, and Haydon, a managing director with Neuberger Berman, treat members of the Central New York financial community to a no-holds-barred conversation on investing and current economic developments, including the housing/mortgage crisis, the concerted raid on Bear Stearns, and green investments. The discussion was moderated by J. Daniel Pluff, host of WCNY’s “Financial Fitness." The breakfast panel was part of the 5th annual Whitman Day celebration in the Whitman School of Management.

Direct Link - 5th Annual Whitman Day: Breakfast Panel with Martin J. Whitman and Richard Haydon

In Their Own Worlds - Morningstar Conversation with Jean-Marie Eveillard and Marty Whitman

Morningstar Conversation: Jean-Marie Eveillard of First Eagle and Marty Whitman of Third Avenue (August 22, 2007) .

Jean-Marie Eveillard and Marty Whitman met in 1990 shortly after Whitman launched what would become his signature fund, Third Avenue Value TAVFX. They were two kindred spirits on a conference panel with a third portfolio manager, who was speaking about financial theories and hypotheses.

"He was talking in a language that was completely different from ours," Eveillard says. "Martin and I chatted afterwards about the fact that it was good that the other was there, because we simply didn't speak the same language as the third guy."

Links:

• Conversation: Jean-Marie Eveillard and Marty Whitman
  
• In Their Own Worlds (PDF)
• Video Link
• Not the Language We Speak
• Value Investor's Edge
• Our Shortcomings
• My Daughter, the Broadway Producer
• No Pain, No Gain
• Handling the Redemption Period
• A Lesson on Limited Partnerships
  

Whitman, Zucaro Sweat Out Drop by Mortgage Insurers

Marty Whitman and Al Zucaro, stock pickers with a knack for buying low, may be dripping in sweat after they snapped up U.S. mortgage insurers that shed more than 40 percent of their value in the past three months.
...

``While the near-term situation may seem dire, we are patient, long-term investors willing to ride out short-term volatility,'' Whitman's company said in a Dec. 28 filing. Financial insurance companies, including Radian, MGIC and bond insurer MBIA Inc., were less than 4 percent of holdings in the Third Avenue Value Fund as of Oct. 31. The fund had assets of more than $11 billion on Dec. 31. Whitman didn't respond to requests for comment.

Direct Link - Whitman, Zucaro Sweat Out Drop by Mortgage Insurers.

Marty Whitman's Big Bets

A rare look inside the mind of one of this nation's most storied investors, with CNBC's Erin Burnett. He talked about capital infusion, MBIA, RDN etc.

Video Link - Marty Whitman's Big Bets.

Marty Whitman's 3 Bargain Stocks

In a Fortune exclusive, Marty Whitman, the dean of deep-value investors, identifies stocks he considers 'safe and cheap.' His picks will surprise you.

Direct Link - 3 Bargain Stocks.

CNBC Interview with Marty Whitman - $30B Worth of Advice

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.
  

Direct video link- $30B Worth of Advice.

*You can also read Third Avenue's latest report - Third Avenue 2007 Q3 Letter to Shareholders.