| Interesting read in the Wall Street Journal this morning on Sardar Biglari. For those that are not familiar with this young 31 year old CEO, let me bring you up to date. Biglari runs several investment partnerships or (hedge funds) out of San Antonio Texas. The most notable is The Lion Fund. Biglari is what's known in the investment community, as a shareholder activist. He buys a large stake in the company and often ends up as a director on the board, pushing for change or turn-around. In the case with Steak n Shake ($SNS) he became CEO. Biglari runs his partnerships much like Warren Buffett's early years when Warren ran Buffett Partnership between 1956-69. Biglari also runs the old Western Sizzlin Steakhouse ($WEST), and at some later date plans to roll them into one company. According to the most recent shareholder filings, Biglari added to his already large position in Steak n Shake purchasing an additional 107,500 shares. Biglari is a value investor who has studied the readings of Benjamin Graham "Security Analysis" (1934) and "The Intelligent Investor" (1949) as well as the legendary Warren Buffett. |
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