By Sean Goldsmith in the S&A Digest:

Despite the lackluster insider-buying environment, Inside Strategist analyst Braden Copeland has been producing amazing results... In fact, The Wall Street Journal quoted Braden in a short piece it published about one of his most recent recommendations - and current new high - Steak 'n Shake (SNS).

Braden initially recommended SNS in September, noting how cheap the burger restaurant was on a free cash flow basis and the fact that the company just hired a new CEO, activist investor Sardar Biglari, who has made investors tons of money in the past. Braden also dedicated his most recent issue to SNS:

Biglari had been working to convince shareholders he could save Steak 'n Shake since the summer of 2007. He had successfully taken over Western Sizzlin (WEST) in 2005, so he was credible - even though he was hardly 30. He added to his credibility by investing almost $15 million to acquire 11% of the company's stock.

Braden discovered an important change in the company's quarterly report... Biglari has transformed Steak 'n Shake into a holding company - a company that uses its cash flow to invest in other businesses... Think Warren Buffett and Berkshire Hathaway. Readers have the opportunity to buy this little-known and undervalued company - which should already be worth 50% more than it is today - and get Biglari's investment expertise for free.

Some of the greatest investments in history have been holding companies. Again... think about Berkshire Hathaway, which trades for more than $100,000 a share, or Loews Corp., the giant conglomerate controlled by the Tisch family. Steak 'n Shake could be a similar story.

Crux Note: The S&A Digest comes free with a subscription to Inside Strategist. If you're not already a subscriber, click here to sign up and get the full story on all of Braden's picks...