Jan
11
A New Focus on Liquidity After a Fund’s Collapse
ByThe college seminar was drawing to a close in October and Martin J. Whitman was pondering the hits and misses in his long career at the top of Third Avenue Management, one of Wall Street’s better-known value investment firms.
He had had winners with his stock picks, but when it came to bonds, the results were mediocre.
“My problems have been in distressed,” he said, referring to the bets he had made on near-bankrupt companies…
A New Focus on Liquidity After a Fund’s Collapse
