Marty Whitman shares his value investing insights in this latest letter. This master of distressed investing is taking advantage of the situations in the financial and bond insurer sectors.

Comments on the breaking news that Moody's will likely cut MBIA and Ambac ratings. Why now? What should these bond insurers do?

Could the booting of Ambac from the S&P 500 create a value opportunity with this troubled bond insurer?

He is covering the short bets

Price is what you pay, value is what you get. Those words aren’t mine, they belong to Warren Buffett. For now though, they remain incredibly relevant to the type of investment environment we’re in.

You have to read this letter

This is worth the time..

Ackman calls the bond insurers bluff..

This article discusses several comments by Warren Buffett today from Toronto on the credit crunch, the U.S. dollar, inflation, and the bond insurance business.

You have to read this 20 page letter

As a whole, the Street Capitalist portfolio is up 12.82% over the course of less than 5 months. During the same period, the S&P 500 is down -6.46%. I’m quite satisfied with this type of out performance of my benchmark. In the future I’d like to make a few more changes:

Goldman Sachs looks at the value of bond insurers under three different scenarios.

Billionaire Wilbur Ross is in serious talks to take over Ambac Financial Group, according to a media report, but broader efforts to rescue the sector will take some time, a New York state regulator said on Thursday.

Ackman's entire letter to Moody's

Very interesting..........