Third Avenue's Wadhwaney: "Great Value" in Japan

Amit Wadhwaney has almost 15% of the Third Avenue International Value Fund invested in Japan, nearly triple the level of two years ago. Bloomberg reports:

"Japan presents great value for us in terms of the kind of things we can buy,'' said Wadhwaney, 53, in a telephone interview on Aug. 8. "We are not seeking to make a fast buck here.''

This bit from the end of the article will strike a chord in regular readers of Controlled Greed.com:

"Our patience allows us to do things that most people never do,'' Wadhwaney said. "We are quite happy to wait for things to turn around over a two- to five-year horizon.''