Politicians have it wrong! That’s the strong opinion of tell it like it is deep value investor Marty Whitman, Founder and Chairman of Third Avenue Management. In an exclusive television interview, the octogenarian Whitman, whose Third Avenue funds have made a fortune investing in distressed debt takes on Congress and others for their ignorance about credit and credit worthiness.
This weekend’s Consuelo Mack WealthTrack features an exclusive TV interview with legendary deep value “Great Investor” Martin Whitman, founder and chairman of Third Avenue Management, premiering nationwide beginning this Friday, October 25 at 7:30 p.m. on public television (check local listings**) and on wealthtrack.com.
In this video, Martin Whitman tells WealthTrack Anchor and Executive Producer Consuelo Mack:
“The politicians basically have it wrong…particularly right-wing Republicans, in the economic sense. In the history of this republic and any creditworthy entity, you better mark down that debt in the aggregate is almost never repaid. It is refinanced and expanded by businesses and governments and even individuals who become creditworthy and increase their creditworthiness. That’s very important. So all this business about a debt limit…is going to end up in chaos, because the truth is, the United States federal government is eminently creditworthy, and if it’s going to get in trouble, it’s at the use of proceeds from borrowing not wisely spent, not that we’re incurring debt.”
Video preview below:
**Local market airdates and more info on Consuelo Mack WealthTrack are below.
This Saturday, October 26, 11:30 a.m. – 12:30 p.m., Consuelo Mack will participate in “The View from the Anchor Desk” panel at C200‘s 2013 Annual Conference at The New York Palace Hotel. The panel also features Bloomberg Television Anchor Stephanie Ruhle, and is moderated by Alexandra Lebenthal, president and CEO of Lebenthal & Company, LLC. “The View from the Anchor Desk” will provide attendees an insider’s perspective on breaking global financial news, being a woman in business media and reaching the very top of the financial journalism field. C200 is an invitation-only, international organization composed of the world’s most successful female entrepreneurs and corporate leaders. This year’s theme — “New York, New Rules… Advancing the State of Your Empire” — is about what’s next for members, their businesses and the state of women business leaders worldwide. Media credentials are required.
About Consuelo Mack WealthTrack
New episodes premiere every week nationwide on public television (check local listings)
**New York metro area: Fridays at 7:30 p.m. on WLIW21, Saturdays at 8 a.m. on THIRTEEN and Sundays at 10:30 a.m. on NJTV
**Los Angeles area: Saturdays at 8 a.m. on PBS SoCal WORLD, Sundays at 3:30 p.m. on KLCS, and Tuesdays at 11:30pm on KVCRDT3 Desert Cities
Online: New episodes stream Mondays on wealthtrack.com
Since July 2005, Consuelo Mack WealthTrack has provided trustworthy, understandable advice about building and protecting wealth over the long-term from the best minds in the business world. The weekly financial series remains the only program on television devoted to long-term diversified investing. In season 10, WealthTrack continues to give viewers pathways to build their financial security and tackle economic, market and political changes, featuring new interviews with “Great Investors” and “Financial Thought Leaders,” including David Winters, Dan Fuss, Richard Bernstein, and Bill Miller. Anchor, Executive Producer and Managing Editor Consuelo Mack, an award-winning, veteran business journalist with an extensive rolodex, handpicks each guest based on their professional credentials, performance and integrity. Following an in-depth discussion about the most significant current trends affecting investors, guests recommend “One Investment” that every individual should own in a long-term diversified portfolio. Each week’s episode concludes with Consuelo’s “Action Point,” one to-do item to help viewers achieve financial security. The series website –
wealthtrack.com – features new upgrades including a redesign to match the series’ new HD broadcast look for season 10, and exclusive enhanced content. Full episode streams, Consuelo’s “Action Point,” guests’ “One Investment” picks, transcripts, WealthTrack Web Extra featuring exclusive episode outtakes, interview podcasts and more, are also available at wealthtrack.com.
Consuelo Mack WealthTrack is a presentation of WLIW21 in association with WNET. The series is distributed nationally by American Public Television and sponsored in part by New York Life and MainStay Investments, Loomis Sayles, and Wintergreen Advisers.
Consuelo Mack WealthTrack official websites: