Leucadia has always been a fascinating company to me in that its founders’ Ian Cumming and Joseph Steinberg, have established a company with an extraordinary track record of building shareholder value with a wide variety of obscure businesses.  Now, Cumming and Steinberg have stepped down and the company is being led by Richard Handler and...Read More

As a passionate student of all types of history, I’ve gained tremendous insight from studying the business and investment experiences of the most successful professionals.  There is no need to reinvent the wheel, nor veer from the core value investing framework that has made these people so incredibly successful.  Leucadia (LUK) is a company that...Read More

Jefferies (JEF) is up nicely today off of a recommendation form Dick Bove of Rochdale Securities LLC.  Jefferies recent deal to help save Knight Capital Group (KCG) is a potential goldmine for Jefferies, and the mid-tier investment bank has been performing quite well in comparison with competitors.  The current valuation for Jefferies is very attractive...Read More

After reviewing the Jefferies earnings call I’m very optimistic as to how this quarter should shake out for the other financials.  CEO Richard Handler has done an amazing job with Jefferies, in the most difficult of environment.  I really appreciate the way that he has opportunistically bought back stock and debt at favorable prices, and...Read More