Martin Whitman founded Third Avenue Asset Management Company on 1990, and is currently the chairman and investment director of the company. Previously, Martin Whitman was an investment banker, an expert witness in shareholder litigation and an expert in bankruptcy reorganization. 1984 The stock strategy fund that Martin Whitman took over is a closed-end fund. After Martin Whitman took over, it became an open-end fund. In the past, the manager of the fund was EQSF Advisers, Inc., who entered the asset management industry. Later, due to the sharp rise of a stock held by the fund, the fund lost its legal status of diversified investment and had to be liquidated according to laws and regulations. So, Martin Whitman founded the Third Avenue Value Fund as his successor fund in 1990, and won the Morning Star Award as the best fund manager in the first year. Martin Whitman has been managing the fund since its establishment, and now he is 82 years old. In addition to the Third Avenue Value Fund, the company established three small-cap value funds, real estate value funds and international value funds at 1997, 1998 and 200 1 respectively.

Martin Whitman graduated with honors from Syracuse University and has taught at Yale Business School for more than 30 years. He has written Radical Conservative Investor and Value Investment-A Balanced Approach, and obtained CFA qualification.

Investment Performance According to its latest annual report, from its establishment to the end of 10 in 2005, the average annual return rate of the Third Avenue Value Fund was 16.92%, while the Standard & Poor's 500 Index was 1 1.92% in the same period. In addition, the average annual performance of the Third Avenue Value Fund in the past 1 year, 3 years, 5 years, 10 until the end of 2005 10 has greatly exceeded the S&P 500 index.