Martin Whitman was one of the great value investors of the 20th century. Whitman founded the predecessor firm to Third Avenue Funds in 1986 and went on to launch the Third Avenue Value Fund in November 1990, which he managed until 2012.
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Under his management, the fund achieved one of the best track records in the mutual fund industry. From inception in November 1990 through October 2007, the fund returned 16.83% annualized compared to a return of 12.33%...
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