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Tim Travis
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Tim Travis is a veteran deep value investor and money manager. Travis has extensive experience in traditional investments such as stocks and bonds, in addition to having a unique methodology of combining options and distressed investing with value investing to generate income, reduce risk, and... More
My company:
T&T Capital Management
My blog:
T&T Capital Management Blog
My book:
Learn to Treat Your Portfolio as a Business
  • Leucadia Shareholder Letter 0 comments
    Apr 16, 2012 10:18 AM | about stocks: LUK

    It doesn't get much better than Lecuadia (NYSE:LUK) when it comes to value investing. These low profile investors have bought and sold a variety of different businesses in different industries and during the process have accumulated one of the best track records in the business. Between 1979-2011 they have compounded book value by 19.1%. This is a fabulous shareholder letter which starts with some pretty heavy yet fair criticism of our policy makers, and ends with a discussion on succession as the Chairman Ian Cummings plans on stepping down in 2015 at the age of 75. Enjoy!

    http://www.leucadia.com/c-p_letters/luk_c-p2011.pdf

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: LUK
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