No. of Recommendations: 3
Avoiding IEP should have been easy. In the last 9 years on average, Shareholder Equity declined 4% per year and Shares Outstanding increased 12% per year. The good news is that because of the complicated corporate structure (LP Depositary Units Repr Units of LP Interests), IEP was not in most mutual funds. This was another red flag. (Maybe another question should be who else is investing.)
It is a bit concerning that moneyfortherestofus.com missed this. IEP was also picked by some SIP screens in 2022 ({Up_5%},{Up5X3},{Silver_Parachute}), but was not picked the week before the big drop on May 2nd. This might have just been luck.
IEP IEP Berkshire Berkshire
year Equity[$B] shares[M] Equity[$B] shares[M]
2013 13.3 112 224 1.64
2014 12.4 120 243 1.64
2015 10.0 127 259 1.64
2016 8.0 138 286 1.64
2017 11.4 161 352 1.64
2018 12.9 180 353 1.65
2019 10.9 200 429 1.64
2020 9.3 221 451 1.62
2021 9.3 260 515 1.53
2022 9.6 316 481 1.47
CAGR -4% 12% 9% -1%
Ownership of BRK.A % Total % Total
Name Shares Held Assets
Fidelity® Contrafund® 1.29 9.38
Fidelity Contrafund Commingled Pl 3 0.45 8.90
Fidelity® Contrafund® K6 0.27 8.86
Fidelity Advisor® New Insights I 0.11 5.01
Vanguard Instl Ttl Stck Mkt Idx Tr 0.07 0.04
Ownership of IEP % Total % Total
Name Shares Held Assets
Global X SuperDividend' US ETF 0.07 0.97
Kinetics Paradigm No Load 0.06 1.33
Fidelity® NASDAQ Composite Index® 0.05 0.09
Kinetics Small Cap Opportunities No Load 0.03 1.78
Multi-Asset Diversified Income ETF 0.03 0.66
Morningstar: Share price, XNASMorningstar: Share price, XNYSSI Pro Rankings 2023-04-28
discussion.fool.com - Si pro rankingsSI Rankings 2022-08-26
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