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
In his first-quarter letter to investors of Greenlight Capital, David Einhorn lashed out at regulators. He claimed that the market is "fractured and possibly in the process of breaking completely." Q1 2021 hedge fund letters, conferences and more Einhorn claimed that many market participants and policymakers have effectively succeeded in "defunding the regulators." He pointed Read More
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
147291817 Leucadia s 2002 Letter From Chairman and President PDF by ValueWalk.com