Investment Thesis
Here is the reason why Liberty Global (LBTYA) is cheap: there are so many moving parts which cause investors confusion. That's it!
There is huge potential, but given the numerous moving parts, investors are struggling to understand why this stock is a favorite for many legendary value investors, such as Seth Klarman, Berkshire Hathaway (BRK.A) (BRK.B), and others.
Here I boil everything down to three critical criteria:
- Divestments
- Balance sheet/buybacks
- Valuation
1. Don't Get Caught Up In Details
Liberty Global is a European-based operation. The U.S. financial media doesn't