Idea Generation | Investment Process | Sell Discipline

home : process : investment process

Investment Process

Third Avenue Management manages relatively concentrated portfolios as we believe that diversification is a poor surrogate for knowledge, price consciousness and control. Our funds are fairly concentrated. No attempt is made to mirror a benchmark, either by composition or weighting. However, in order to minimize portfolio risk, industry allocations will not exceed 25% and allocations to individual securities will not exceed 10% (at cost).