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Faced with two and a half years of subpar investment returns, famed Legg Mason Value Trust money manager Bill Miller recently turned to a support group.

Renowned investor Jim Rogers thinks it's laughable that some analysts are suggesting the bull market in commodities may be over,but it's nothing he hasn't heard before in his nearly 40 years in the business.

"People have been telling me for seven years that the bull market in commodities is over, practically every time we have a correction, and I suspect they'll be saying it for at least another seven years. The bull market is not over yet - it's had a big correction but it's not over yet,"

When it comes to timber, Kent Croft sees both the forest and the trees. His five-star Croft Value Fund is up an average of 12.27 percent per year over the last five years.

"Timber is not normally correlated very highly with stock and bond markets, but I also think it's a wonderful time to get in," he told CNBC.  "The reason you want to get in is sort of the inherent economics of a tree:  As a tree grows, obviously the volume increases, but, also, the per-unit use of that volume increases in price."

Look out, there's likely more trouble in financials, according to Marian Kessler, who helps manage $59 million in assets in the Becker Value Equity Fund (BVEFX), a large-cap portfolio that has a four-star Morningstar rating and has outperformed the Standard & Poor's 500 over the last three years with a trailing return of 4.7%. But she's not ready to jump back into financials, arguing that another big, big blowout among regional banks, and a meltdown in credit cards, could be in the wings.

Jason Zweig writes the Intelligent Investor column for The Wall Street Journal. I’m sorry to say this week’s column is especially unintelligent. When asked whether Graham would be buying financial stocks today, Zweig says no. Crumbling real estate prices alone would not have deterred Graham. He liked to use long-term averages and estimates of what normal conditions would bring. He relied heavily on the past as an indicator of the future. Real estate prices will recover at some point.

Insight on whether Berkshire Hathaway stock is a value in itself, with Andrew Kilpatrick, Wachovia and Whitney Tilson, T2 Partners.

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Barack Obama calls on Warren Buffett, among others, as he turns his attention to the troubled U.S. economy now that he's returned from his international tour that featured a well-attended speech in Berlin.

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Prem Watsa, chair of insurance conglomerate Fairfax Financial Holdings Ltd., began to worry about a credit meltdown a few years ago. So he and his investment team devised a defensive strategy. Today, Fairfax is in great shape financially, despite lousy markets.

The company has defied gravity and two weeks ago its credit was upgraded. This reflected its stellar performance on its US$19.8-billion investment portfolio, good operations at its underlying insurance companies and a jump in shareholders' equity from US$2.856-billion in 2006 to US$4.8-billion today.

Stocks such as Gannett and Goodyear Tire seem to have gotten more punishment than they deserve -- while others haven't gotten enough. Some Investment Pros like to gripe about how hard it is to find cheap stocks. But that argument is getting tougher to make, as the market's selloff this year has left more than 100 companies in the S&P 500 trading below 10 times projected 2009 profits, based on a recent computer screen.

Noted value manager Leon Cooperman of Omega Advisors tells Barron's this week that he now feels "like a kid in a candy store."