Ashleigh Rogers
Long/short equity, growth at reasonable price, value, banks

Leucadia National Corp Has Too Many Moving Parts

Conglomerates are very controversial with investors and financial professionals alike. Some believe that have a myriad array of different businesses helps to steady a company during the natural ups and downs that afflict all industries at various times. Others contend that the inherent complexity of blending operations across completely different industries is distracting to management and confusing to investors. There was a time when the conglomerate was the corporate form of choice, but those days are nearly 40 years in the past now. Today very few conglomerates remain with the most well known of course being the well-managed behemoth Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B). Another more under the radar conglomerate which is considerably smaller (and hence has...

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