Loews Corporation is a diversified holding company with the majority of its intrinsic value attributable to majority stakes in three publicly traded subsidiaries: CNA Financial, Diamond Offshore, and Boardwalk Pipeline. Based on market quotations as of May 10, 2013, the value of shares owned by Loews in these three publicly traded subsidiaries was $16,360 million. This implies an undemanding valuation for the rest of Loews which we refer to as the “Loews stub”.
Over the past several months, Contango Oil & Gas Company shareholders have received a steady stream of bad news. Read this article for an update on our investment thesis.
Berkshire Hathaway’s share price is approaching $150,000 for the first time in over five years. Does this round number have any particular meaning from a valuation perspective? This article takes a brief look at the question.
In this article, we discuss the investment merits of Contango Oil & Gas, a unique exploration and production company with a compelling risk/reward profile.
Joy Global is a leading manufacturer of underground and surface mining equipment used in the extraction of coal and other minerals. The company manufactures essential and highly specialized products such as continuous miners, longwall shearers, and roof supports critical for safety in modern mines. Read this article for more details.