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Leucadia results are out...


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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!

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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.




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