‘We Go Looking For Crises,’: Third Avenue’s Matt Fine

Value investing comes in lots of different flavors. Whether you’re intent on finding Graham’s now elusive net-nets, follow Warren Buffett’s advice to invest in a ‘wonderful company at a fair price,’ or just look for companies with a low valuation and no red flags, what ties value investors together is a bottom-up approach that focuses on current fundamentals instead of trying to out-predict the market.

Matt Fine, who took over as sole Lead Portfolio Manager of Third Avenue International Value Fund earlier this year, has the same commitment deep value, fundamental investing, but with a nearly wide open mandate and just four people dedicated to the International Value Fund, it’s macro-economic distress that often points him in the...