Steady Gains for Leucadia Leave Some Investors Hungry for More

Investing in a conglomerate takes a lot of work because you can't just focus on a single business or even a particular industry. Leucadia National (NYSE: LUK) is best known for its Jefferies Group financial services business and its National Beef meat processing and supply company, but it also includes plenty of other investments in companies. Fully understanding those businesses is a tough task even for professional investors, and ordinary shareholders can feel overwhelmed by the sheer scope of Leucadia's business.

Coming into its second-quarter financial report, Leucadia investors had wanted to see a nice jump in earnings on solid revenue gains. The company delivered on the top line, but profit growth was a lot more muted than many had hoped, and that led to a share-price decline for the stock. Let's take a closer look at Leucadia National and what its latest results mean for what's to come.

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Source: Fool.com