BH - Biglari Holdings Can Turn Around After A Decade Of Underperformance
- It's now been six years since I started tracking Sardar Biglari's now 20-year-long record of outperformance versus the S&P 500 with my first Seeking Alpha article.
- Unfortunately, the results over the past decade have been the complete opposite, a significant underperformance both relative to the S&P 500 and in absolute terms.
- I had noted the beginning of a turnaround in Steak 'n Shake's results a year ago, but then COVID significantly impacted the results in 2020.
- There is currently also a significant overhang on the stock given the uncertainty around Steak 'n Shake's $153M term loan, which is due in March 2021.
- Still, the shares are incredibly cheap right now, so I expect people buying shares here to see significant gains.
For further details see:
Biglari Holdings Can Turn Around After A Decade Of Underperformance