Larry Pitkowsky serves as Managing Partner and Portfolio Manager of GoodHaven Capital Management, bringing over 30 years of experience in the investment industry. He started as an accounting student who transitioned to stockbroker and became a self-taught security analyst, later joining Fairholme Capital Management before launching GoodHaven in 2011 with backing from Tom Gayner and Markel Corporation. Pitkowsky assumed majority control and became sole portfolio manager in December 2019, marking the beginning of GoodHaven 2.0. He has the majority of his net worth invested in the GoodHaven Fund, aligning his interests with investors. The firm operates with approximately five employees, with key personnel including David Gresser, Lynn Iacona, and Linda Baxter.

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At GoodHaven, we believe successful value investing is owning quality businesses run by exceptional leadership that can be purchased at a price significantly below intrinsic value. The firm employs a concentrated, long-biased investment strategy with the objective of compounding capital at high rates of return over a long period of time. The primary investment strategy involves using fundamental research to identify securities issued by attractive businesses managed by sensible and talented owners, where those securities are selling at a reasonable price. The approach is characterized by a long-term investment horizon with relatively low portfolio turnover, focusing on above-average businesses run by above-average people with a material margin of safety.

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