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Posted

After reading a response from a boardmember on another related thread, I just kind of wanted to know how many people are still Biglari Holdings shareholders.  At one point, this board had many...including myself.  Cheers!

Posted

I never did, but it's funny because when I first discovered this board I read the whole archives, and I saw the progression in sentiment about him from 'Man, this guy's so great!' to 'ew, why is he doing that and who does he think he is?'  :)

Posted

I was uncomfortable with the name change, but did not sell until after the compensation package was proposed.  I also never felt comfortable with BH owning the Lion Fund while the Lion Fund's largest holding was BH.  Seeing him go over the deep end like he did made me sad, because I made so much money investing with and along side Biglari over the years.    I really thought I had found the next super investor right at the beginning of his career.  Oh well, it didn't work out that way.  So much wasted potential all because he let his early successes go to his head.  Who in their right mind would sell their company to him now?  Anyone that finds themselves in his crosshairs will fight tooth and nail against him.  See Cracker Barrel.  What he did with WEST, Friendly's, then SNS, he could have had a reputation of being a shareholder's best friend and acquired poorly run businesses with ease.  Truly sad.

 

:(

 

Posted

Here's a great story for you all:

 

After graduating college in 2000, my family friend bought me 11 shares of Steak N' Shake.  It was the first stock I ever owned.  I held them in certificate form and kept them in a drawer for years.  You would imagine my delight when I read of this young man who was going to save SNS and return it to its glory. 

 

I then proceeded to watch, as he initiated a reverse split (to encourage "a long-term shareholder orientation") and then had to go through the pain-in-the-ass paperwork to cash my shares in, only to watch then stock proceed to rally on the surrounding optimism.

 

We all know 11 shares is nothing, but are reminded of the story of the lady who only owned 1 share of Berkshire and asked Buffet a question at the meeting, only for him to comment about how they were partners!

 

Guess I wasn't the type of "LONG-TERM" shareholder he was looking for as I had only owned my stock for 11 years :o

 

What an ass!

Posted

I still own some, carried from WEST->SNS->BH.. Even though he is not treating the shareholders exactly right(at least the way we would think), there are still $ can be made holding these shares at appropriate valuations.

Posted

If you do that, then add in one that is "not currently, but I would at the right price."

 

That is the camp I sit in.

 

ragnarisapirate,

 

FWIW, BH management is on record, around the middle of last year, stating that they didn't believe BH was overvalued at around $400/sh then.

 

Best,

Ragu

Posted

If you do that, then add in one that is "not currently, but I would at the right price."

 

That is the camp I sit in.

 

ragnarisapirate,

 

FWIW, BH management is on record, around the middle of last year, stating that they didn't believe BH was overvalued at around $400/sh then.

 

Best,

Ragu

 

Saying that it's overvalued at $400/share is a bit of a stretch, so, I guess I agree with Biglari and Co; I'd say it's pretty fairly valued (with a little bit of room to run). Everything that I presently own seems (to me) to be a hell of a lot more compelling than BH at these prices, hence, I own none.

 

Once they finally get something done (whatever it may be) at CBRL or buy an insurer, it will be really interesting. Honestly, I doubt that any of those 2 scenarios are priced into the stock, actually. Still though, I like other companies and their prices a bit better.

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