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Biglari Takes on More Responsibility

As we’ve known since the annual meeting of Western Sizzlin’, Biglari has been searching for a new CEO for Steak N Shake (SNS).  It seems he has found one: himself.
Before we go nuts here, read this quote from the filing:
 I would like to thank Wayne [Kelley, interim CEO] for his guidance over the last several months. In [...]

Notes from the 2008 Western Sizzlin’ Annual Meeting

Last Wednesday, I had the pleasure of attending the 2008 Annual Meeting for my favorite young company, Western Sizzlin’ (WEST).  As you all know pretty well by now, I’m an unabashed fan of what Sardar Biglari is doing with Western Sizzlin’, and a shareholder myself.  The meeting took place is mid-town Manhattan at the St. [...]

Buy ‘Em Back at Western Sizzlin’

A great, but not surprising, piece of information was released today regarding Western Sizzlin’: share buyback authorization.
The 8-k filed today by the company tells us that Western Sizzlin’ has authorized Biglari to buy back up to 500,000 shares.  Doesn’t sound like much, until you consider that the company only has a total of 2,700,000 shares [...]

Sardar Biglari Named Steak N Shake Chairman: Shareholders Rejoice

Tonight, after the close of the market, Steak N Shake Co. named Sardar Biglari the Chairman of its Board of Directors.
If you didn’t notice by the title of this post or my recent articles concerning the company, this is extremely good news for shareholders of Western Sizzlin’ Corp, of which Biglari is Chairman and CEO, [...]

“Looking Through” Western Sizzlin’

A few days ago, I posted a lengthy analysis of Western Sizzlin’ Corporation, a company that I am a huge fan of, run by Sardar Biglari, a young hedge fund manager.
The company, as I mentioned, is structured as a holding company, with nearly half of its market cap in 3 investments: Steak N Shake common [...]

Dissecting Western Sizzlin’ Corporation

You’ve got Berkshire; the king, the original, the Mecca.  Investing in Berkshire Hathaway over the last 40 years has been like injecting rocket fuel into your portfolio, generating 20%+ returns since 1965 and, in the process, minting millionaires and loyal followers. However, nowadays Berkshire is getting so large that, by the laws of statistics, its [...]