Follow This Investing Legend Into Asian Stocks and Real Estate
Jul 11th, 2008 | By Brian Hunt | Category: International InvestingEven the best investors are taking a beating, says Daily Wealth’s Brian Hunt. But Brian says we should follow mutual-fund legend Marty Whitman into Asian stocks and real estate…
Marty is a saint in most investing circles… for good reason. His Third Avenue Value Fund (TAVFX) has averaged 14.4% per year for the past 18 years. Not many folks can come close to that kind of sustained investment return for five years, let alone 18.
Problem is, Marty’s fund has been taken behind the woodshed this year. It has a lot of exposure to China and financial shares. Both are disaster areas… and they’ve helped send the fund down about 30% since November.
As you can see from today’s chart, it’s tough out there… even for a saint. In one of the perversions of investing, right now is likely the best time to hire a manager like Marty. This is when most investors will start searching for the “hot fund of 2008″ and abandon an old winner.
Our take? Marty has piled into Asian stocks and real estate lately. His Third Avenue team is among the best in the business at finding great bargains. When Asia gets back into an uptrend, you’ll be a lot better off with Marty than “Mr. Hot Fund.”
Source: Even the Saintly Investors are Going Through Hell
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