Value Investing News - LUK - Comments

Wow...

forex — Tue, 21 Oct 2008 13:54:11 -0400

EXCELLENT tips here!

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People have short memories on ACF

Chungst — Thu, 22 May 2008 20:34:45 -0400

At one time, the stock was at $60 and then it tanks to the $3 range. I know since I had exposure to ACF at this time and I was fighting the shorts about ACF being a scam on the message boards as well as private emails with Herb Greenberg.

Daniel E. Berce was the CFO at the time and I talked to him personally many times at conferences since I was a high yield bond analyst on the buy side, respectively. I believed Berce to be a competent CFO, but ACF was growing way too fast and that's why it's stock tanked once credit problems caused some their pools to trap cash and there was concern over ACF assisting borrowers that couldn't make payments on time (the shorts claimed ACF was helping to post better credit statistics for its pools, respectively).

The bottom line is that ACF is not well capitalized for it's line of business and as it continues to depend on a primary source of capital (ABS market), it will continue to be at the mercy of credit markets.

I made money buying ACF in the $3 range and given what I know about ACF today at $13, I just don't get the same level of margin of safety, ESPECIALLY given how used car prices are no longer holding its values due to high gas prices. If ACF had to reposses a SUV today versus 2002, do you guys have an idea how much less ACF would get today????

Used car boom?

George — Tue, 18 Mar 2008 23:30:31 -0400

Used autos were very popular and booming business in the late 70s and early 80s. I remember my father's weekend jam packed with people visiting him to look at cars his clients were selling. By the end of the 80s the business had died down dramatically and in the 90s he couldn't get rid of good cars. Todd, you might be on to something here. Maybe with inflation or stagflation on the horizon (if its not already here), the used car business might be on the rise.

Nice find Todd. I'm always

George — Fri, 29 Feb 2008 11:12:08 -0500

Nice find Todd. I'm always interested to see what Leucadia is up to. A few years ago Leucadia was trading real cheaply. I'm still kicking myself for not buying it then.

:)

Dr_Pips — Sun, 20 Jan 2008 16:35:45 -0500

LUK Summary

Jason — Mon, 06 Nov 2006 16:43:21 -0500

From Google Finance

Leucadia National Corporation (Leucadia) is a diversified holding company engaged in a variety of businesses, including manufacturing, healthcare services, telecommunications, real estate activities, winery operations and residual banking and lending activities that are in run-off. The Company also owns equity interests in investment partnerships and in operating businesses, including development of a copper mines in Spain, real estate activities and property and casualty reinsurance operations. In December 2005, Leucadia sold its telecommunications subsidiary, WilTel Communications Group, LLC (WilTel), to Level 3 Communications, Inc. (Level 3). The Company operates in five business segments: manufacturing, healthcare services, telecommunications, domestic real estate and other (winery and banking and lending). In May 2005, Leucadia acquired Idaho Timber Corporation (Idaho Timber).