Real Professionals Have Skin In The Game, And They Beat The Market Too.
Posted by Ralf Yoffe | Under Business, Company Profiles, Currencies, Funds, International, Investing, Marketing, Options, Retirement, Technology, U.S. Markets Monday May 5, 2008
The Public Be Damned… you may quote me: Screw ‘em.
That was the remark from legendary value manager, Marty Whitman, cursing fickle investors for fleeing his Third Avenue fund in favour of the more glamorous technology stocks. The exodus shaved his Third Avenue fund’s assets under management from $50 billion to $38 billion in 1998 and 1999. But guess who’s having the last laugh as the Third Avenue fund is enjoying a 9.95% average 10-year run. Compare that to S&P 500’s 5%!
Tags: Beat, Game, Have, Market, Professionals, Real, Skin, They