"Everywhere we look we're finding really great bargains," says Whitney Tilson, managing partner of hedge fund T2 Partners and noted value investor.

The Tilson Focus Fund had produced a one-year total return of 29.84% and the Tilson Dividend Fund produced a one-year total return of 22.19%. Tilson shares his very sensible selling criteria in this annual letter.

It look's like Tilson's Focus Fund has added USG, Premier Exhibitions, Dell, M.D.C. Holdings, Canadian Tire Corporation, and Wendy's International. It looks like Lear Corporation and H.J. Heinz Company stock was sold.

An article discussing Wendy's (WEN) sale of its Baja Fresh chain. The company bought the chain for $275 million and sold it for $31 million four years later. The author criticizes the company for failing to mention the original purchase price when it announced the sale.

Announcement of the Wendy's (WEN) tender offer.: "Wendy's is offering to repurchase up to 22.2 million shares, or about 19 percent of the company's shares outstanding, at a price of $33 to $36 per share". Last I checked, shares were trading hands at $34.30.

Special Situations Investing provides a brief analysis of Wendy's (WEN) in light of the news the company will attempt to repurchase 19% of outstanding shares in a modified Dutch auction tender. "Given their shareholder friendly management, strong financial position…and potential for operational improvements the company does seem like a good deal."

Bloggingstocks reports that Wendy's is selling Baja Fresh and focusing on its core franchise. The author points out that many of Wendy's current moves are borrowed from their competitors and it looks like they are picking the best ones.