Biglari: The Young Buffett

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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An Off Shoot Of Buffett's Partnership: The Sequoia Fund

Here is an interesting link on The Sequoia Fund. Sequoia is a value oriented mutual fund managed by Ruane, Cunniff, & Goldfarb. The Seqouia Fund $SEQUX has a large number of companies in their portfolio however Sequoia concentrates a large percentage of its dollars to a hand full of companies. Warren Buffett's Berkshire Hathaway $BRKA, $BRKB currently is their largest holding followed by Martin Marietta Materials $MLM, Fastenal $FAST, IDEXX Labs $IDXX, and Mohawk Industries $MHK. Sequoia has an excellent track record stretching back to 1970. The Sequoia Fund is not really an off shoot of Berkshire Hathaway, however they have a long history together. Bill Ruanne who was the founder of the fund was one of a small group of investors along with Warren Buffett that trace their roots back to the Father of Security Analysis Ben Graham. It seems back in 1969 Buffet ended his Buffett Partnership after a 13 year run. Buffett steered his partners over to Ruane who in turn started the Sequoia Fund. The Fund was closed off to new investors for 26 years and reopened in 2008.

Relevent Article

Buffett And Reopened Seuoia Fund Still Intertwined After Decades

A Stock Canidate That Walter Schloss Might Like!