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Leucadia's Letter from Chairman and President Ian Cumming

April 13, 2012 | About:

Comments

vgm
Vgm - 2 years ago
An amazing read, as ever! Thanks for posting.
AlbertaSunwapta
AlbertaSunwapta - 2 years ago
Fascinating comments:

Leucadia National Says Chairman Cummings Will Retire

April 15, 2012By Matt Rego

http://www.valuewalk.com/2012/04/leucadia-national-says-chairman-cummings-will-retire/

excerpt:

"We never recommend investment decisions: however, take that factor into account onto of the risky holdings, we would not be a holder of Leucadia stock, there is just too much downside potential for the stock. If Leucadia gets into a similar bind that MF Global did late last year, it will hurt its holdings in Jefferies Group, Inc. (NYSE:JEF) as well thereby affecting Jefferies returns..."

"The current price would suggest that the stock is on the lower end of the spectrum and could be heading lower if its holdings go south. Shrinking margins will also play a big factor into the company’s possible demise. Watch out for Leucadia’s potential fall."

paulwitt
Paulwitt - 2 years ago
"We never recommend investment decisions: however, take that factor into account onto of the risky holdings, we would not be a holder of Leucadia stock, there is just too much downside potential for the stockI'll take the other side of that trade (make that investment). In fact, I've already done it!

vgm
Vgm - 2 years ago
"If Leucadia gets into a similar bind that MF Global did late last year, it will hurt its holdings in Jefferies Group, Inc. (NYSE:JEF) as well thereby affecting Jefferies returns..."

This article from valuewalk (is it a misnomer?) seems very misguided. For one thing, this person seems to be living in the past. The campaign of misinformation around JEF was firmly addressed and taken off the table months ago. The stock has doubled since then. Steinberg and Cumming address it in the report.

Like Paulwitt, I've taken the other side of the author's 'logic' and scooped up LUK.

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