This past weekend, Berkshire Hathaway
Of course, it's hard to get excited about a 55% decline in book value, which is exactly what Leucadia National
Unlike Berkshire, which invests mostly in Armageddon-proof fare like Coca-Cola
Obviously market values have deteriorated further since Dec. 31, so that reported $11.22 per share book value is even more uninformative than under less volatile circumstances. Leucadia's carrying value for AmeriCredit dropped from $250 million to $127 million on Feb. 20. The investment in Target, made by committing $200 million to Bill Ackman's Pershing Square IV fund, is now down 93%.
Leucadia's financials are about as easy to navigate as a fire swamp, but to figure out what's really going on in there, and whether investors will escape from this pit of despair, you'll just have to set aside a few hours and wade through the 10-K. Godspeed, brave Fools.
Meanwhile, Berkshire subsidiary Wesco Financial
Conveniently, Wesco indicated the subsequent mark-to-market book value declines experienced through Feb. 24. Based on this pretty current figure of $291 per share, Wesco is trading at a pretty steep discount. I continue to find this one of the most intriguing net-nets in the market today.
Berkshire Hathaway and Coca-Cola are Inside Value recommendations. Berkshire is also a Stock Advisor selection. Johnson & Johnson is an Income Investor pick. Scope out any of our super subscriber newsletters free for 30 days.
Fool contributor Toby Shute doesn't have a position in any company mentioned, but he's a big fan of The Princess Bride. The Motley Fool owns shares of Berkshire, and also has an inconceivable disclosure policy.