Leucadia 2002 Shareholder Letter, not posted on their website. Yesterday, we posted the 2003 letter, which also cannot be found online. Enjoy!
Letter From The Chairman and President
To Our Shareholders
In 2002, Leucadia reported $16.16 in after tax income or $2.88 per fully diluted share, which is a 10.5% return on ending equity. This return is slightly distorted by $150 million which was added to equity from the sale of stock late in the year, about which more later.
H/T Value Study