Significantly undervalued. At 12x of investment per share multiples, stock should be worth US 150,000 to 160,000

Managers Ian Cumming and Joseph Steinberg acquired control of investment company Leucadia National in 1978. Leucadia buys out-of-favor assets at discounts to intrinsic value and then works to improve and extract value from those assets. ROR since then has been absolutely superb.

The world most up and coming hedge fund. This is the 2nd Berkshire Hathaway in the making. Eddie Lampert will certainly be growing cash in years to come

Capital Trust was founded by Sam Zell, the real estate mogul. It is a real estate investment trust that has exposure only in commercial subprime and it is also a private equity firm in corporation with Citigroup. The 2nd quarter was upbeat in a difficult environment and there is upside surprise in Brazil ; the sweet yield of more than 9% is likely to be maintained.

Valuation metric is very attractive. P/CF, P/E and Price to sales among the lowest for the second largest home improvement company

United Health is the biggest managed Care group by market capitalisation. It is playing on the theme of Greying of America. Pensioners, employees and their families depend on such managed healthcare program that is outsourced by large corporations and govt organisations. UNH, by its sheer size, can administer efficient programs at great price because of its economics of scale. Based on DCF analysis, i reckon that this stock can double within 5 years.

Asta Funding bought a $6.9 bln portfolio of written off consumer receivables at $300 mln that is above the national portfolio in terms of risk. The company has acknowleged that the company is confident that recovery ratio can exceed 150% beyond which they have to share 20% profit with the consortium that sold them the porfolio. Asta bought it through wholly owned subsidiary Palisades Corp. Earnings will be incremental almost immediately. Using conservative method, i reckon that stock is a potential one bagger. Needless to say, Bruce Sherman added the stock into portfolio last quarter and brought their stake to 11.5% recently, the largest holding of an institutional manager

After selling Omega Protein Corp (OME) for $76.5 million, the company is a shell company with $151 million in cash and 98% stake in Zap.com. The stock is trading negative enterprise value i.e. less than its cash worth. Even if there do not make any acqusition in the next 12 months, you will have a 20% return ( 15% return to cash level + 5% interest)