The Market Hick

Berkowitz, Rodriguez and Pabrai: Examining Q3 Filings

LUK has a big copper ore mine due to come on stream in '09 and also a large interest in an iron ore mine in Australia.With copper and iron ore prices plummeting, that could be a big drag on their earnings.Also look at their recent investments in Americredit(ACF) and Jefferies(JEF), both are underwater. Their portfolio isn't looking too hot right now. I also have to wonder about cash flow from their wholly owned subsidiaries like the lumber mill and winery. You have to start thinking if they can service their $2billion in debt. Boy just penning these words makes me want to short the stock, I think I will.