Leucadia results are out...

[Alekbaylee]

http://ca.news.finance.yahoo.com/s/27022009/34/biz-f-business-wire-leucadia-national-corporation-announces-2008-results.htm

[oldye]

I'm not a wine guy but I tried the Pine Ridge brand from Trader Joe's this week and it was something else.

 

When these guys say Premium they mean it, it was a 64$ bottle!

[frog03]

 

Interesting to see the BVPS around 11 (from 25 a year earlier).  Probably down a bit more with ACF and JEF being significantly down YTD.  I'd think the stock price will go down a bit more to reflect these numbers.

[Parsad]

I'm not a wine guy but I tried the Pine Ridge brand from Trader Joe's this week and it was something else.

 

When these guys say Premium they mean it, it was a 64$ bottle!

 

Well Oldye, I'm glad someone can still afford $64/bottle right now!   ;D  It's a recession.  Shouldn't we all be drinking only peach schnapps?  Cheers!

[scorpioncapital]

 

Interesting to see the BVPS around 11 (from 25 a year earlier).  Probably down a bit more with ACF and JEF being significantly down YTD.  I'd think the stock price will go down a bit more to reflect these numbers.

 

I don't think this is an accurate assessment of the situation. The $25 book price per share last year included a deferred tax asset of $1.6 billion or about $7.5/share. The $11/share book price of 2008, EXCLUDES this tax asset. So the comparable figures are:

 

2007 - $17.5 (adjusted to exclude the deferred tax asset)

2008 - $11.2

--

 

36% drop in comparable book value.

 

 

Likewise, after year end, the net loss to JEF/ACF of about $230 million is somewhat offset by gains in Fortescue for a net futher loss of $52 million or $0.21/share.