Digging into the portfolios of Berkowitz's Fairholme, Rodriguez's FPA and Mohnish Pabrai.

"The value stocks favored by Tweedy, Browne haven't done very well lately. But if you are a true believer in value, that's all the more reason to be buying those stocks now."

What a year this has been. In last year’s annual report we included, for the first time, a Special Commentary section to highlight various issues and risks that we saw developing in the capital markets.

Nice little interview with Bob Rodriguez, who along with Seth Klarman, always seems to have a good handle on the pulse of the financial markets.