What the experts say

What the experts say

Where Marty Whitman sees value

Marty Whitman, the octogenarian dean of value investing at Third Avenue Funds, wants stocks that are safe and cheap, said Yuval Rosenberg in Fortune. In that order. “Safe, to Whitman, means companies with rocksolid financials and managers whose interests are aligned with those of their stakeholders.” Considering that Third Avenue’s returns have averaged 12 percent over the past decade, that strategy has been “handsomely rewarded.” Among the bargains Whitman sees now are Philadelphia mortgage insurer Radian Group, whose stock sunk from $70 early in the year to $15 this summer after the mortgage meltdown. Radian’s book value, says Whitman, is at least $50 a share. Urban developer Forest City Enterprises is another real estate play he likes because the company “has so many promising projects in the pipeline.” A third favorite value play is Brookfield Asset Management, a Torontobased investment company run by Bruce Flatt, “Canada’s Warren Buffett.”

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Medical-bill malpractice

The most common costly medical errors often aren’t diagnoses, said Victoria E. Knight in The Wall Street Journal. Mistakes on medical bills for doctors, medical tests, and hospital care can add anywhere from a few dollars to thousands of dollars to your bill. Nora Johnson, an expert with Medical Billing Advocates of America, estimates that eight of 10 hospital bills that come across her desk contain multiple errors. “While bills from doctors’ offices and labs tend to contain fewer mistakes, consumers can still end up paying unnecessarily.” Even when providers don’t overcharge, insurance companies may not pay what they’re supposed to. “Common blunders include medicalcoding errors, mistakes in how annual deductibles are applied, and confusion over which providers are in or out of network.” Always closely scrutinize your bills and your insurer’s explanation of benefits.

For sale by owner? Maybe not

With home prices down and expected to fall further, many sellers are being tempted to try the for-sale-by-owner route, said Josh Hyatt in Money. Their goal is to keep a larger share of the shrinking pie for themselves. In theory, it’s a great idea. In reality, it’s a lot of work— and doesn’t always end in a sale. “Even in the best of times, many homeowners who start out doing a FSBO eventually enlist the aid of a broker.” To make it work, research comparable sales prices and plan to pay $250 to $400 to add your house to the local multiple- listing service through such programs as FlatFeeMLSListing.com. When it’s time to open your home to buyers, be prepared to be at their beck and call any hour of the day. “Hope you have an understanding boss.”