What can be the greatest credibility of the internationally acclaimed investors? This is a million dollar question and can make any Joe public to frown. But to the regular onlookers and the concerned persons in the realm of the international business they are nothing except first and foremost as number crunchers, that in due course of action led to the rise of bargain-minded value investors. In this regard the Veteran Mutual Fund Manager Martin Whitman of the Third Avenue Fund stands supreme who in the recent days through a number of shareholder letters focusing on the need of an efficient management.  

Third Avenue Management LLC is a New York-based investment advisory firm renowned both in the national and international market for its efficiency and offers of its services to the private and institutional clients. Third Avenue from its inception adheres to a disciplined bottom-up value investment strategy for the identification of investment opportunities in undervalued securities of companies with high quality assets, understandable businesses and strong management teams that have the potential to create value over the long term. The Company has approximately $27 billion in assets under management and offers value-oriented strategies, through mutual funds, separate accounts and alternative investment vehicles.

In his latest shareholder letter the veteran man has been perceived to divulge the secrets that has been the guiding principle of this year-old Third Avenue Management LLC where he has denied the predominance of the saga of an ability to dig out bargains in itself.   To his own assessment in his own words, "Rather, the fund's best investments revolved around being in bed with superior managements who were able to be opportunistic on a long-term basis." To him the eminence of the superior managements rests on of which he writes eloquently "seem to focus on the same thing [Third Avenue Value Fund] focuses on as a buy-and-hold investor; i.e., long-term wealth creation. The primary focus is not on what periodic reported earnings per share might be." In addition, to him the best managed companies have the notion of enjoying an adequate amount of financial strength that is highly needed to pick and choose every opportunity at the time of turning towards the markets for capital. To his assessment at that opportune moment, "the managements tend to be non-promotional and, at times, hardly interested at all in what Wall Street thinks."