LOCO mkt cap yardstick shows Biglari as extreme value stock
LOCO has 400 locations and a market capitalization of $666M.
Biglari Holdings has 761 locations (includes 1/4 of CBRL stores since BH owns 20% of CBRL) for market cap of merely $743M.
Don't try telling me that BH has debt because Maxim magazine and the Florida direct trucker insurance, and 10% of UNAM, are worth more than the debt.
LOCO has $288 M in debt.