At the age of 82, legendary investor Martin Whitman is still going strong; his mind is still as sharp as ever. Since founded Third Avenue Value Fund (TAVF) at the age of 65, his fund has returned more than 16% a year over the past 17 years.
What attributes does Martin Whitman look in an investment? “Safe and Cheap!” To understand how he invests, we strongly recommend you to read his quarter shareholder letters. Reading his letter may not be as relaxed as reading Warren Buffett letters, but you will learn just as much, if not more.
These are a summary of what he looks in an investment.