Graham And Doddsville

The Value Investing Capital of the World

Archive for the ‘Marty Whitman’

Fall 2011 Issue of Graham and Doddsville

November 16, 2011 By: webmaster Category: Columbia Business School, Graham And Doddsville Newsletter, Mario Gabelli, Marty Whitman

The students of Columbia Business School just released what I believe to be the best value investing newsletter available – especially if you are looking at price vs. value.

The current issue of Graham and Doddsville features three legends Leon Cooperman (CBS ’67),  Mario Gabelli (CBS ’67), and Marty Whitman.  A new young alumnus feature profiled Eli Rabinowich of Pzena Asset Management.  Eli’s “Profiles in Investing” column were a source of inspiration for the first issue of Graham and Doddsville.  There are also two student pitches on GLDD and MSG.

Check out the latest issue of Graham and Doddsville here.   Keep up the great work CBS!!!

Valuable Interviews

April 07, 2009 By: webmaster Category: Bruce Berkowitz, Columbia Business School, Marty Whitman

I recently came across three articles that I think are must reads.

Marty Whitman, legendary manager of Third Avenue Funds, has over 50 years of experience under his belt.  Most value investors know that he describes his value philosophy as investing in businesses that are ‘safe and cheap’.   In a recent  Financial Post article, Ian Lapey, designated successor to Whitman on the Third Avenue Value Fund, describes how Third Avenue defines cheap by tweaking Ben Graham’s famous net-net formula.  Read the article here.

As a student at Columbia Business School, I helped to launch the student run newsletter Graham and Doddsville. My successors did an outstanding job interviewing Bruce Berkowitz for the most recent issue.  It is interesting to contrast Third Avenue’s focus on asset value with Berkowitz’s focus on cash flows.  Jean-Marie Eveillard says that value investing is a ‘wide tent’.  While different investors arrive at intrinsic value using different methods, they are all searching for the same thing:  businesses selling well below their estimate of intrinsic value. You can read the Graham and Doddsville interview here.

For more on Bruce Berkowitz, see his interview in the recent issue of Outstanding Investor Digest here.

The Wisdom of Humility

April 02, 2009 By: webmaster Category: Jean-Marie Eveillard, Marty Whitman, Mason Hawkins

Three legendary investors, two short articles, countless lessons to be learned:

Investment News reflects on the humility of legendary investors Jean-Marie Eveillard and Marty Whitman.  Read the article here. recently caught up with Mason Hawkins, legendary manager of Longleaf Partners.  Read the article here.