We don't usually write about or alert our friends on specific companies, since plenty of others do that. We do so only in particularly interesting or unique situations, or those from which activist investors can learn something helpful.
Biglari Holdings conducts its annual meeting today. We haven't studied the situation in depth, and just followed it in the news. We do know it's different and contentious.
We found this analysis worth the time of BH investors and others. Farnam Street Investments, a small fund in California, owns BH shares and plans to attend the meeting. They urge an inventive and equitable compromise.
As we say on occasion, we wish we wrote this.