Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Another big change. I guess this guy Robert Chip Rewey has really impressed the people at Third Avenue. A very significant departure of Curtis Jensen.......
"Robert “Chip” Rewey, III, CFA, currently Lead Portfolio Manager of Third Avenue’s flagship Value strategy (TAVFX, TVFVX) and Co-Lead Portfolio Manager of Third Avenue’s Small-Cap strategy (TASCX, TVSVX), will assume sole lead management responsibility for the Small-Cap strategy upon the departure of Curtis Jensen, Co-Lead Portfolio Manager of the Small-Cap strategy, at the end of September 2014."
@Ted: thanks. Good article for those of us who want to keep up with Third Avenue Value and Third Avenue Small Cap Value. Marty Whitman is a legend, but perhaps he didn't pay enough attention to training and finding great people to take over for him.
Looks like TAVFX does have some decent people managing it. I just looked at their 'bios' on M*. Future performance will tell all.
Seems to be the way most corporations do things. All veiled in secrecy. Don't ask, because you won't be told why xyz happened. Why did this person leave the company, when he seemed to be a pillar of the company? Why did this new person take his place?
Three weeks is usually three more than most cases. People are let go immediately these days. Checks are cut and belongings gathered and out the door. Management has it all ready. The three weeks notice thing is for the media.
Comments
I guess this guy Robert Chip Rewey has really impressed the people at Third Avenue.
A very significant departure of Curtis Jensen.......
"Robert “Chip” Rewey, III, CFA, currently Lead Portfolio Manager of Third Avenue’s flagship Value strategy (TAVFX, TVFVX) and Co-Lead Portfolio Manager of Third Avenue’s Small-Cap strategy (TASCX, TVSVX), will assume sole lead management responsibility for the Small-Cap strategy upon the departure of Curtis Jensen, Co-Lead Portfolio Manager of the Small-Cap strategy, at the end of September 2014."
Regards,
Ted
http://news.morningstar.com/articlenet/article.aspx?id=664299
Looks like TAVFX does have some decent people managing it. I just looked at their 'bios' on M*. Future performance will tell all.
Answers won't be given. It's secret.