Jefferies Group Inc. (JEF
) is a global securities and investment banking group that has served corporate clients, institutional investors and high net worth individuals for 50 years and has operations in 30 cities around the world. It is also a full 90.997% of investment company Leucadia’s (LUK
) portfolio as of June 30, and they have been buying even more Jefferies stock in November. Leucadia’s portfolio is run by guru Ian Cumming
, along with Joseph Steinberg, who are great investors. Leucadia experienced 10-year cumulative book value growth of 292.7%, compared to 16.4% for the S&P 500.
Jefferies also appealed to Bruce Berkowitz
, who liked it enough to buy 4,123,711 shares at an average price of $22.58 in the second quarter of 2011, while he was selling other stocks. Though the stock has fallen 46% year to date, something about the company keeps these gurus hanging on. Continue Reading »