The Traderszone Network

Published in TZ Latest News 23 December, 2015 by The TZ Newswire Staff

Hidden in plain sight: Big risks at failed Third Avenue fund were clear to some

In the months before the blowup of Third Avenue’s junk bond fund in early December, investors and financial advisors called the New York-based investment company to voice their concerns about the growing percentage of hard-to-trade, illiquid assets in the fund’s portfolio. “I would call up and they would say, ‘We’re under control, we have plenty of cash,'” said Richard Berse, president of Northstar Financial Advisors Inc in New Jersey.

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