Third Avenue 2nd Quarter Letter
Read the full article at: http://www.thirdavenuefunds.com/taf/documents/shareholderletters/aboutus-letters-07Q2.pdf
Submitted by SilverSlime on Sat, 2007-06-30 10:19.
(via www.thirdavenuefunds.com)
Martin Whitman's letters are worth reading.
Whitman Insight
"Put simply, the vast majority of great individual fortunes built in this country,
especially by Wall Streeters and corporate executives, were not built by people who took investment risks. Rather, the secret to building a great fortune is to avoid, as completely as possible, the taking of any investment risk."