Daniel Schmerin: Let’s turn to Leucadia (LUK, Financial). You’ve owned it for a long time. What are your thoughts?
Bruce Berkowitz (Trades, Portfolio): I have tremendous respect for Mr. Steinberg and Mr. Cumming, who created the company. But it’s a different company today. It’s a different environment. And there are many industries in stress today. Facts change, we change. We still think highly of the people at Leucadia, but in our rank ordering process, we have found other opportunities to take advantage of.
From Bruce Berkowitz (Trades, Portfolio)'s Feb. 23, 2016, Fairholme Fund (Trades, Portfolio) conference call.
