In Southeastern Asset Management’s third quarter letter, managers discussed three categories of their holdings, the third of which they dubbed the “crash bucket.” Stocks in this elite group consisted of their energy holdings, which as a group had declined more than 60% year to date. Managers viewed the “crash bucket” in a positive light, saying companies' recovery would eventually bestow “a large part of our significant potential future return.” But all of the stocks save one, Wy...
In Southeastern Asset Management’s third quarter letter, managers discussed three categories of their holdings, the third of which they dubbed the “crash bucket.” Stocks in this elite group consisted of their energy holdings, which as a group had declined more than 60% year to date. Managers viewed the “crash bucket” in a positive light, saying companies' recovery would eventually bestow “a large part of our significant potential future return.” But all of the stocks save one, Wy...
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