23 Feb 2009 The Graham & Dodders ( Portfolio )
...there is a whole generation of value investors that are following in the footsteps of Benjamin Graham, David Dodd and now Buffett.

Today, Tweedy, Browne is again buying stocks, but it does not make the sort of big bets that Buffett does in individual companies.

...One such company is Burlington Northern Santa Fe Corp, in which Buffett has a significant stake. The reason: Railroads are seeing an operating improvement and are getting reasonable rates of return on capital. They also have an enormous advantage over other freight movers, such as trucks. According to Tweedy, Brown's managers, it costs about a penny to move one ton of coal one mile, but as much as 15 cents to move it one mile on a truck.

If there was ever a legendary fund, it's Sequoia (SEQUX), managed by New York-based Ruane, Cunniff & Goldfarb. This mutual fund was co-founded by Richard Cunniff and William Ruane, Buffett's stockbroker, in 1970. It got a boost right from the beginning because Buffett, who was liquidating his own investment partnership, advised his clients to take their cash to Sequoia.

Among the companies that Sequoia currently holds are Martin Marietta Materials, Idexx Laboratories and Mohawk Industries.