Guru Ian Cumming (Trades, Portfolio), founder of Leucadia National (LUK), a New York-based holding company, tends to be low-key in his personal stock dealings. He hasn’t had more than two large transactions in a quarter in three years, and the third quarter of 2014 was no exception.
Well, it was an exception in one regard – whether he deals in one stock or several, Cumming frequently buys or sells in numbers that can be expressed in millions or tens of millions. Sometimes, though, as was the case in the third quarter, his deals involve much smaller chunks – still large by the standards of most ordinary investors but small compared to the size of transactions he frequently makes. Continue Reading »