Martin Whitman owns 19% of Radian(RDN)

Third Avenue Management LLC, the money manager founded by activist investor Martin Whitman, became the largest investor in Radian Group Inc.(RDN). -Stock Article Link

They held 15.1 million shares of Radian, or 19 percent of the outstanding stock, as of Oct. 31
Martin Whitman motto is "safe and cheap". Radian sells at $10.57 but has a book value of $42. How much of that has to be written off is unclear. $62 million cash, $6.6 billion in long term investments, with only $948 long term debt. Losing $703 million in the lastest quarter has people spooked but they are conservatively financed.

Martin Whitman has averaged an annual pace of 14 percent over the past five years, compared with the 8.7 percent gain in the S&P 500 Index.