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Capstone Mining, GP Investments are Third Avenue Manager Faves

Capstone Mining has far lower political risk because its copper fields are in North and South America, said Matthew Fine, portfolio manager for the Third Avenue International Value Fund. Fine added that the Canadian-based miner trades at a substantial discount to its peers, making it a likely take-out candidate. Fine is also bullish on Brazilian-based private equity player GP Investments, saying it sells as a 45% discount to its liquidation value. Finally, Fine is positive on Telefonica Deutschland, despite its drop in earnings last week, due to a spike in consolidation in the industry.