jlukephoto L's List: LUK

Of the 17 equities that I hold, I do have a few speculative plays that I think offer a decent risk/reward ratio. As Joe Steinberg would say, these are my "cute" investments.

Seaboard Corp. - controlled from Chestnut Hill, MA

As Bruce Berkowitz has said, "why invest in your 18th best idea when you can add more to your 17th."

great Graph compares LUK holdings' price growth vs. LUK

He’s not trying to guess the market’s near term direction. There certainly has been a big rally. Folks are right to be concerned about a sell-off. That said, he’s optimistic about valuations for U.S. stocks (the economy seems to be strengthening, management is getting better, prices are low) but far more optimistic about the world beyond the U.S. He sees the U.S. and the U.K. as debt-ridden, mature economies. He invokes Wayne Gretzky’s adage, "skate to where the puck's going, not to where it's been," to explain his interest in Malaysian casinos.

(Nota bene: there’s an even-cooler line associated with the skating quote. Gretzky was credited with "uncanny anticipation," which he attributed to dad, Walter: "He used to stand at the blue line and say to me, 'Watch, this is how everybody does it.' Then he'd shoot a puck along the boards and into the corner and then go chasing after it. Then he'd come back and say, 'Now, this is how the smart player does it.' He'd shoot it into the corner again, only this time he cut across to the other side and picked it up over there. It was something he taught me every day. On the way to hockey games in The Blue Goose (the family vehicle), he'd quiz me . . .

"Him: Where do you skate?

"Me: To where the puck is going, not where it's been.""

In his own book, Walter Gretzky offered the line I like: "Do it once and it's an exercise. Do it a few thousand times and it's 'uncanny anticipation.'")

Great opinon re: Chinese views on Rio Tinto & Fortescue

Article about LUK

Sesame Street of investing for adults, complete with funny sounds, props, and a cartoon-like character (Cramer himself). Would you accept investment advice from Oscar the Grouch or Cookie Monster? No? Then you probably should not listen to Cramer either.

This audio clip explains what "Twiggy" has been doing in negotiating the ore deal with China - and uses the word "reviled" to explain how he's viewed by BHP, Rio & Vale.

In typical fashion, Mr. Market has abandoned LUK (i.e. Joe and Ian) during a period of weak investment results, ignoring LUK's spectacular 20[-year] track record and likely future outperformance. The markets short sighted focus on recent losses is providing patient investors with a remarkable opportunity.

Priced slightly above depressed tangible book value (i.e. liquidation value), investors can have these "super investors" guide their capital through today's treacherous market environment, and even better yet, they won't have to pay up for the privilege. Outperform.

Linear regression says this thing (EXPD) goes to 12.

Ah...gotcha. I was wondering if he would...BRK and LUK seem to be staples with Bruce...and why not...its tough to find a better managed set of holding companies.

I think Mr. Condescension means that LUK is an incredible long-term play but that trading here is shortsighted and missing the point of the amazing asset appreciation potential. Hang on and relax. As the world economy recovers I'm betting this is one of the best plays available anywhere.

Look at "The Finova Report" on scribd that I posted...you'll see a lot of outdated crap, but look for the summaries of Leucadia and it's NOL's...what better way than to quote their own words !??!?!

Completely agree with this. But it does beg the question as to who continues to sell at these levels. The guy who bought at $11-$15 and sees it stalling here, so it's time to bail? Certainly is not attracting the mo-mo guys cause there ain't no mo-mo. And who really wants them, anyway? As always the best advice is to not follow it day by day. With this stock, that is analogous to getting an appraisal on your home every week- what's the point?

Now if I could only take that advice...

Come on Rast...short term voting machine...long term weighing machine..who cares whether theres support for the stock?!