Leucadia National Corp. (NYSE:LUK) is a conglomerate with diversified businesses across many different industries. Although not well known by regular retail investors and Wall Street, it has long been a favorite of value investors. It is called by some as one of the two "Baby Berkshire Hathaway" companies for a reason. (The other is Markel (NYSE:MKL))
First, the company has long been value oriented. The old management Ian M. Cumming and Joseph S. Steinberg are very famous in the circle of value investors. Some famous value investors like Bruce Berkowitz not only liked them a lot, but even said he personally thinks they are better than Warren Buffett (I don't really agree though).
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