This week in WealthTrack’s series on Great Investors, Consuelo Mack features two legendary value investors whose long-term records are among the best in the business. Interestingly, they have taken very different approaches to the markets since last year’s financial crisis.
“The first is Jean-Marie Eveillard, until recently the long-time lead portfolio manager of the First Eagle funds for which he received Morningstar’s lifetime achievement award for one of the most successful long-term records in the investment business. Jean-Marie is known for his defensive value style of investing. He believes it remains the best strategy to follow.
“The other is his close friend, Marty Whitman. Marty is the celebrated portfolio manager of the Third Avenue funds and one of the deans of value investing. He is also the author of several books. His most recent, Distress Investing is a primer on one of his areas of expertise. He also wrote The Aggressive Conservative Investor, a title which describes him to a T, and Value Investing: A Balanced Approach. He too has an exceptional long-term track record but has taken a much more aggressive and bullish stance on the markets since last year …”
The discussion makes for excellent viewing material, giving one insight into the wisdom, perspective and investment ideas of Eveillard and Whitman. (If there is no sound, click on “unmute” by scrolling over the bottom of the image.)
Note: The transcript of this interview is not available yet, but will be posted here as soon as it arrives.
Source: WealthTrack, August 7, 2009.
