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No. of Recommendations: 1
A Close Look at Mini-Berkshire, Leucadia National

As of September 30, Leucadia held nearly $800 million in cash and cash equivalents. As a whole, current assets almost cover total liabilities….With a price to book of only 0.82, Leucadia is an attractively priced stock. When compared to the big-boy version of itself, Berkshire, Leucadia is substantially less expensive (though less safe) than the 1.15 times book you pay for Buffett. With a smaller capital base, and therefore larger growth opportunities, I will gladly pay $0.82 on the dollar for the company's assets and sound management.
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