Monday, March 12, 2012

Marty Whitman Retires

Chuck Jaffe generously praises Marty Whitman in this short piece on his decision to step down from managing the Third Avenue Value Fund.

While I disagree with parts of it, Jaffe accurately identifies Whitman's admirable long-term track record--and the three words that Whitman's style boils down to: "safe and cheap."

The whole thing's worth a read, even for those of us who have been following the fund for some time and give Ian Lapey more credit than Jaffe seems to.

Saturday, March 10, 2012

The Headline that Made David Einhorn Smile

I have no inside information on this, but I'd be willing to bet that the following headline made David Einhorn smile:

I saw this in my Facebook news feed, prefaced by my friend saying, "This looks promising." Indeed it does--but especially for those short Green Mountain shares.