Hedge funds

Third Avenue Small Cap Value Fund 2014 Letter

Third Avenue Small Cap Value Fund's letter to shareholders for the year ended December 31, 2014.

Dear Fellow Shareholders,

Our investment philosophy is to construct a concentrated portfolio, composed of companies i) with healthy balance sheets to try to provide downside protection, ii) with the ability to strongly grow book value over time and iii) that trade at an attractive discount to our conservative estimate of Net Asset Value (NAV).

In the past quarter, we . . .


This content is exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here

If you are subscribed and having an account error please clear cache and then cookies if that does not work email support@valuewalk.com and we will get back to you as quick as humanly possible

Subscribe to our mailing list

* indicates required

Opt out of occasional 3rd party offers