Friday, June 17, 2011

Sloppy Reporting on Biglari Holdings.

From the Inelegant Investor:

In regards to Market Watch attributing the rise in the price of BH stock:

It attributes the stock’s rise to Mr. Biglari’s purchase of shares without noting that Mr. Biglari is required to use a significant percentage of his bonus compensation to purchase company shares on the open market. It further quotes an analyst erroneously claiming that Mr. Biglari had not purchased since the stock was at $300, when a simple perusal of SEC filings shows that his last purchase was 639 shares on 3/14 for $403.66.

Granted, I and the Inelegant Investor have followed BH for a while; so, we know a lot of the issues surrounding the company... however, I would have expected more out of the people at Market Watch, or, even the people that are buying because of Sardar Biglari's purchases.

Disclosure: None. This is not advice of any kind. Always do a ton of your own research on anything that I say, write, do, or so much as even think about.

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