Leucadia National

  • Looking for the Next Berkshire Hathaway

    By Andrés Cardenal - July 24, 2013 | Tickers: BRK-B, BRK-A, LUK, L, MKL

    Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) has delivered truly amazing returns for investors who were smart enough to invest with Buffett and Munger for the long term. However, the company has gotten quite big, and this materially reduces the chances of outsized performance in the future.

    But other smaller companies are trying to imitate Berkshire´s success, and the hunt for the next Berkshire Hathaway, meaning a smaller company with more »

  • Is This a Baby Berkshire or Not?

    By AnnaLisa Kraft - June 26, 2013 | Tickers: BRK-B, LUK, BX

    Editor's Note: A previous version of this post stated that Leucadia had an interest in Fortescue Metals Group and Inmet Mining. This has been corrected.

    Leucadia National (NYSE: LUK) has often been called a baby Berkshire Hathaway (NYSE: BRK-B). It does have many similarities to Berkshire and even has a 50-50 joint venture with them in the Berkadia Commercial Mortgage company. But where do the similarities end?

    The Berkshire more »

  • A Look at the Mini-Berkshires

    By Matthew Luke - May 21, 2013 | Tickers: LUK, MKL, PWCDF

    Warren Buffett’s Berkshire Hathaway has been one of the best investing success stories of the past half-century. Under Buffett’s leadership, the textile manufacturer turned insurance company turned investment vehicle has made many people a small fortune (and a few people a very large fortune). With the success of Berkshire, it should come to no surprise that investors are always on the lookout for the next Berkshire Hathaway-like company more »

  • 3 Holding Companies to Pay Attention To

    By Victor Selva - May 10, 2013 | Tickers: LUK, SHLD, JOE

    When investing in holding companies, one must make an extra effort analyzing its assets and growth prospects as a whole. In this article we will briefly look into the main reasons to invest in 3 of Bruce Berkowitz´s investment choices -Sears Holdings Company (NASDAQ: SHLDSHLD)), St. Joe Co. (NYSE: JOEJOE)) and Leucadia National (NYSE: LUKLUK))- or reasons not to do so.

    An attractive upside

    Based on two positive indicators more »

  • The Next Berkshire Hathaway

    By Ash Anderson - April 6, 2013 | Tickers: BH, LUK, MKL

    Editor's Note: This version has been amended to correctly reflect Leucadia's market capitalization. 

    I’m a Berkshire Hathaway investor, but I feel that the company has gotten so overwhelmingly large that gains are going to get harder and harder to come by. I really like the way that Berkshire is run, and while it may be impossible to find the next Buffett I think I have found three more »

  • Parent and Spin-Off Present Much Different Returns

    By Mike Thiessen - March 20, 2013 | Tickers: LUK

    As part of a much-anticipated merger between New York-based conglomerate Leucadia National (NYSE: LUK) and famed investment banking firm Jefferies Group (JEF - defunct), Leucadia executed a spin-off of a winemaker and distributor known as Crimson Wine Group (OTC: CWGL). Crimson Wine began trading as a separate company on Feb. 22, 2013 and has since over-performed the broader market by a modest amount. Likewise, shareholders appear to be similarly ambivalent about more »

  • Lining up the Usual Suspects for Profits

    By AnnaLisa Kraft - March 20, 2013 | Tickers: HFC, IPAR, LUK

    Dark alleys, femme fatales, dramatically lit malcontents are the hallmarks of film noir and suspense, but what does this all have to do with the (supposedly) transparent world of stocks? Think of the market as a detective would. Which stocks have the most motive for a merger or have an opportunity to take share? Means should be self-evident... which stocks have the free cash flow to invest in R&D more »

  • Merger and a Spinoff at the Same Time

    By Mike Thiessen - March 1, 2013 | Tickers: JEF, LUK

    As part of the New York-based company’s expected merger with investment banking powerhouse Jefferies Group (NYSE: JEF), Leucadia National (NYSE: LUK) has announced plans to spin off its Crimson Wine division and pay a “spin-off” dividend to its shareholders. The spin-off is expected to close on February 25, 2013. Although the terms of the Jefferies-Leucadia merger have not yet been finalized, it appears likely that the deal will be more »

  • 3 Undervalued Picks from Bruce Berkowitz

    By Laura Paur - March 1, 2013 | Tickers: AIG, BAC, JEF, LUK

    Bruce Berkowitz’s Fairholme Fund has an outstanding investment record, but a poor performance in 2011 placed him in the bottom 99% of funds. 2012 has been very strong for Berkowitz as the fund went almost directly to the top 1% as Fairholme’s top financial holdings rebounded sharply. This shows that things change very quickly in the stock market and it is important to have patience and confidence in more »

  • Prepare Your Portfolio for the Long Haul and Mimic This ‘Classic’ Value Investor

    By Meena Krishnamsetty - January 30, 2013 | Tickers: BLDR, LUK

    There are many different investment philosophies in use in the marketplace today, but without fail one of the most time-tested methods to consistently beat the market is a “classic” value based approach. Financial services boutique Robotti & Company is a great example of this strategy in use.

    Located in New York and managed by Bob Robotti, the firm has consistently generated top-notch returns by focusing on stocks in the small and more »

  • Bruce Berkowitz's Top Positions (Last Part)

    By Anh HOANG - January 28, 2013 | Tickers: CIT, LUK, MBI

    The “Stock Manager of the Decade” Bruce Berkowitz has managed to deliver more than 13% annual return in the first 10 years of the 21st century with quite a concentrated portfolio. Although the concentration has made him lose more than 32.4% in 2011, it also helped him gain a return of more than 37% in 2012. I have written about his four biggest positions, including AIG, Sears Holdings more »

  • The Best Little Conglomerate You've Never Heard Of

    By AnnaLisa Kraft - January 28, 2013 | Tickers: AINV, LUK, BX

    What do beef processing, a casino, copper mining, mortgage servicings, timber, California wine, and gasification have in common, besides the possibility for a very strange party game? These are just some of the businesses owned by conglomerate investment company Leucadia National (NYSE: LUK).

    It's an intriguing company and its annual letter from the Chairman and President is a must-read, as well written and humorous as any of Warren Buffett more »

  • Are These Conglomerates Great Deals or Value Traps?

    By Chris Hodge - January 25, 2013 | Tickers: CAT, HRG, LUK, UTX

    Conglomerates are a crazy thing. They can dabble in everything and make tremendous profits, or be little more than an expression of egomania (see almost every main James Bond villain). But sometimes a conglomerate looks like it might be doing well upon first glance.

    Looks Can Be Deceiving

    At a $63.8 billion market cap, Caterpillar (NYSE: CAT) looks like it's doing just fine. Paying a 2% dividend and more »

  • How to Find Good and Cheap Companies?

    By Federico Zaldua - January 8, 2013 | Tickers: DISH, HHC, LUK, STRZA

    In this article I analyze Horizon Kinetics portfolio. Horizon is a value oriented institution that tries to capitalize on the overwhelming need for investors to achieve short-term results. According to the fund´s website, long-term price inefficiencies can be created by the collective, short-term focus of the markets. Events visible 3 to 5 years in the future have little utility to the average portfolio manager so the fund seeks to more »

  • Can Jefferies Repeat Bond Performance in 2013?

    By Peter Pham - January 2, 2013 | Tickers: LQD, JEF, JPM, KCG, LUK, NES.DL

    Jefferies Group (NYSE: JEF) posted better than expected results for its fiscal fourth quarter, which saw profits jump by 48% from last year to $71.6 million. Revenues increased by 37% to $760.6 million, which is about $38 million more than analysts’ expectations. It should be noted that Q4-2011, from which the current results are being compared, was particularly tough for Jefferies; its income, excluding extraordinary items, dropped by more »

  • Are Conglomerates Still a Thing?

    By Chris Hodge - December 28, 2012 | Tickers: MMM, CAT, LUK, UTX

    I wasn't alive in the 1960s but I hear that conglomerates were a big deal back in those days. So I was cruising through the stock screener and decided to check out whether conglomerates were still a thing. They are, but there aren't many and they're not what they used to be. Basically, a conglomerate is an umbrella company (not necessarily like the one in the Resident more »

  • Make 5% in a Few Months Off This Investment Bank

    By Mike Thiessen - December 6, 2012 | Tickers: BRK-B, GS, JEF, LUK

    On Monday November 12, Leucadia National (NYSE: LUK) announced that they are buying the investment bank Jefferies (NYSE: JEF).  This acquisition is their largest yet and Jefferies shareholders will make up about 36% of LUK stock.  This values Jefferies at around $3.6 billion. Leucadia has been seen as a smaller version of Berkshire Hathaway (NYSE: BRK-B) but this transaction isn’t in line with Buffett’s style. 

    Jefferies has more »

  • Leucadia, Isle of Paradise, Place of Shelter?

    By Jonathan Lim - December 3, 2012 | Tickers: BRK-B, ITT, JEF, LUK

    In Greek, leucadia means "isle of paradise" or "place of shelter." It's also the name of a seaside community outside San Diego. A fitting name, I'd wager. I haven't been there. But we're here to discuss the stock market, so our focus must shift to yet another Leucadia.

    This Leucadia, Leucadia National (NYSE: LUK), is named after Leucadia, Calif. It's a conglomerate in the most more »

  • Did MFC Industrial Just Pull a Rabbit Out of Its Hat?

    By Alex Gray - November 21, 2012 | Tickers: BRK-B, BRK-A, GLEN, LUK, MIL, NOBGF

    When a company reports earnings it normally leads with revenues and profits (or losses) for that period, but that was not the case for MFC Industrial's (NYSE: MIL) third quarter report.  This burgeoning global supply chain management company led with what was an astounding increase in assets and book value. 

    Digging deeper into the report, the company completed a previously announced takeover of Compton Petroleum Corporation.  The total cost more »

  • Leucadia Buys a Succession Plan

    By Alex Gray - November 14, 2012 | Tickers: JEF, LUK

    On the morning of November 12, it was announced that Leucadia (NYSE: LUK) would acquire Jefferies Group (NYSE: JEF) in an all-stock transaction.  According to the release, Jefferies shareholders are to receive 0.81 of a share of Leucadia valuing Jefferies at approximately $3.6 billion at the time of the announcement. 

    This transaction did not really come as much of a surprise since Leucadia already owned approximately 28.6 more »

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