Compilation of all Leucadia shareholder letters

[Liberty]

Here they are:

http://www.mediafire.com/?gh3693u6az57nop

All credit goes to Poor Charlie.

[eclecticvalue]

Thanks Poor Charles and Liberty!!!

[Poor Charlie]

Here they are:

http://www.mediafire.com/?gh3693u6az57nop

All credit goes to Poor Charlie.

Appreciate that Liberty but no credit deserved on my part.  BTW, thanks for setting up the file share folder, my inbox needed a break.   

[enoch01]

Thanks guys for posting these!   

[moore_capital54]

I just spent the evening reading all the letters. I had previously read the ones from 1998 onwards as they were available on sec.gov.

Just want to thank you guys for making them available.

There is much to be learned from these letters,  and it is very obvious to me that LUK has really messed up having owned and sold some incredible assets, I don't really understand why they would ever sell some of the real estate they owned like the French Properties (2.1m square feet) and the Park Avenue/Chicago Skyscrapers. It also behooves me why they sold their retail banking operation.

I would much rather own the LUK of 1986-1994 then the one today.

What kills me is that they obviously understood the merits of investing in assets that protect against inflation but somehow decided to dump their exquisite property portfolio. You could have had here another Brookfield properties inside of Leucadia worth at least double of the current market value, + everything else.

[FFHfan]

Thanks! 

[racemize]

Hi all, I'm somewhat OCD, so I wanted to get all the letters in one pdf.  Thought I would post it:

http://dl.dropbox.com/u/14968/Leucadia Letters (2010).pdf

Should have bookmarks for every year as well.

EDIT: fixed linked (hopefully)

[tombgrt]

Hi all, I'm somewhat OCD, so I wanted to get all the letters in one pdf.  Thought I would post it:

http://dl.dropbox.com/u/14968/Leucadia Letters (2010).pdf

Should have bookmarks for every year as well.

Hi racemize, I think you forgot to make the pdf public, I can't open it now.

TIA from another OCD patient

[Arden]

The link works, but as you see here are some spaces in it -just before the word letters.

Try this:
http://dl.dropbox.com/u/14968/Leucadia Letters (2010).pdf

[scorpioncapital]

moore_capital, I understand your frustration. They have bought and sold dozens of investments over the years. Their target return is 20% per year, sometimes more sometimes less. I think there are many ways to reach that goal.