From Third Avenue Management's Eight Areas of Financial Misunderstand to Distressed Investing Experts Forum 2010

New York, NY, September 20, 2010 --(PR.com)-- Jonathan Krautmann, Distressed Investments, Third Avenue Management LLC, will present at Golden Networking's Distressed Investing Experts Forum 2010, "Analyzing and Valuing Distressed Companies, Securities and Real Estate" (http://www.DistressedInvestingExpertsForum.com), September 21st, 2010, Consulate General of the Republic of Poland, New York City.

Mr. Krautmann's firm, Third Avenue Management LLC, is a New York-based investment advisory entity that offers its services to private and institutional clients. Third Avenue adheres to a disciplined bottom-up value investment strategy, to identify investment opportunities in undervalued securities of companies with high quality assets, understandable businesses and strong management teams that have the potential to create value over the long term. Third Avenue Management has approximately $14 billion in assets under management and offers value-oriented strategies through mutual funds, UCITS, separate accounts and alternative vehicles. Its chairman, Martin J. Whitman, made waves in the news last April with his "Eight Areas of Financial Misunderstand", which are:

"1. Rehabilitation of troubled entities can be accomplished via three approaches, either alone or in concert: recapitalizations; monetization or liquification of certain assets, (i.e., liquidations); and capital infusions.
2. 'Too Big to Fail' is a phony concept.
3. In the aggregate, debt is never repaid. It is refinanced and expanded by those borrowing entities which remain credit-worthy.
4. The private sector and government are in partnership whether they like it or not. The private sector is part of the problem and part of the solution. Government is part of the problem and part of the solution.
5. Wall Street professionals and corporate executives are all in the business of creating moral hazards. Eliminate moral hazards and you eliminate entrepreneurship, creativity, and much of superior management performance.
6. Taxpayer bailouts are a phony concept, stretching beyond creditability the concept of substantive consolidation. If the government provided financing at a loss to private sector entities, then it is the government providing bail-out funds, not taxpayers, which can be deemed to be the equivalent of common stockholders of the U.S. government.
7. A revolution in corporate reorganizations and liquidations may have occurred in 2009 when General Motors, Chrysler, and CIT reorganized speedily and relatively cheaply through controlled Chapter 11 reorganizations. No longer do large, important companies necessarily have to be reorganized in uncontrolled Chapter 11s where administrative expenses can run into the hundreds of millions to billions of dollars. Also, most uncertainties about what a reorganization might entail can be resolved before a filing takes place rather than at some indeterminate time in the future.
8. Strict regulation is essential if most financial institutions are to function well."

Panelists, speakers and sponsors are invited to contact Golden Networking by sending an email to info@goldennetworking.net. Golden Networking has been frequently featured in the press, including recent articles in The Wall Street Journal, "Happy Hour for High-Frequency Trading", The New York Times, "Golden Networking Helps Job Seekers Make Overseas Connections", Los Angeles Times, "Speed-addicted traders dominate today's stock market", Reuters, "Revamp looms as trading experts huddle at SEC" and Columbia Business School's Hermes Alumni Magazine, "10 Under 10".

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