Marty Whitman dips a toe into GM's sea of debt

Aaron Pressman

Another day, another fascinating read from one of the planet's great investors, in this case, Marty Whitman of the Third Avenue Value Fund (TAVFX). In his first quarter letter to shareholders (PDF file), he says he bought a small position of $2 million in unsecured General Motors debt at about 50 cents on the dollar and a yield of 15%.

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