A value investor makes a big new bet on Moody's

Concentrated value investor Bryan Lawrence just put about $15.4M into Moody's, the credit-ratings and analytics giant. It's a big new bet for a fund that holds only around eight stocks. Moody's just posted a strong quarter with 15% revenue growth and raised its buyback plan. He also added a smaller $1.8M to insurance-software maker Guidewire, already one of his top holdings.