Money and Finance
- Bruce Berkowitz's 2013 Annual Letter
Link to: Bruce Berkowitz's 2013 Annual LetterOur largest issuer position, at nearly 50% of assets, is in AIG common and warrants. Our second largest, at 15%, is in Bank of America common stock. Both are designated Global Systemically Important Financial...
- Fund Focus: Fairholme Hedge Fund Builds On Berkowitz’ 25 Years Of Success
Link to article: Fund Focus: Fairholme Hedge Fund Builds On Berkowitz’ 25 Years Of SuccessBruce Berkowitz may have made his name with his $11 billion mutual fund, but it's his partnership that's making headlines these days. While the average...
- Bruce Berkowitz's Big Asset Sales (video)
April 27 (Bloomberg) -- In today's "Movers & Shakers" Bloomberg's Dominic Chu reports that Bruce Berkowitz, manager of the $8.4 billion Fairholme Fund, sold stakes in Citigroup Inc. and China Pacific Insurance (Group) Co. during the quarter...
- Bruce Berkowitz: The Megamind Of Miami
Thanks to Will for passing this along.He may be the most driven investor on earth. And now the founder of the $17 billion Fairholme Fund is making the boldest bet of his career.Bruce Berkowitz is starting to sweat. It's just after 5 a.m. on a Thursday,...
- Ignoring The Elephant In The Bailout - By Gretchen Morgenson
IF you blinked, you might have missed the ugly first-quarter report last week from Freddie Mac, the mortgage finance giant that, along with its sister Fannie Mae, soldiers on as one of the financial world’s biggest wards of the state. Freddie — already...
Money and Finance
Fairholme proposes to buy insurance businesses of Fannie, Freddie
UPDATE: Bruce Berkowitz was on CNBC discussing this HERE.
Thanks to Will for passing this along.
Thanks to Will for passing this along.
(Reuters) - Fairholme Capital Management has proposed to buy the insurance businesses of Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB), a move that seeks to resolve the uncertain future of the mortgage financiers by freeing them from U.S. government control.
Bruce Berkowitz's Fairholme said it wants to buy the mortgage-backed securities insurance businesses of Fannie and Freddie by bringing in $52 billion in new capital.
The recapitalization plan seeks to raise about $34.6 billion in exchange for preferred stock, and at least $17.3 billion from preferred stockholders in a rights offering.
- Bruce Berkowitz's 2013 Annual Letter
Link to: Bruce Berkowitz's 2013 Annual LetterOur largest issuer position, at nearly 50% of assets, is in AIG common and warrants. Our second largest, at 15%, is in Bank of America common stock. Both are designated Global Systemically Important Financial...
- Fund Focus: Fairholme Hedge Fund Builds On Berkowitz’ 25 Years Of Success
Link to article: Fund Focus: Fairholme Hedge Fund Builds On Berkowitz’ 25 Years Of SuccessBruce Berkowitz may have made his name with his $11 billion mutual fund, but it's his partnership that's making headlines these days. While the average...
- Bruce Berkowitz's Big Asset Sales (video)
April 27 (Bloomberg) -- In today's "Movers & Shakers" Bloomberg's Dominic Chu reports that Bruce Berkowitz, manager of the $8.4 billion Fairholme Fund, sold stakes in Citigroup Inc. and China Pacific Insurance (Group) Co. during the quarter...
- Bruce Berkowitz: The Megamind Of Miami
Thanks to Will for passing this along.He may be the most driven investor on earth. And now the founder of the $17 billion Fairholme Fund is making the boldest bet of his career.Bruce Berkowitz is starting to sweat. It's just after 5 a.m. on a Thursday,...
- Ignoring The Elephant In The Bailout - By Gretchen Morgenson
IF you blinked, you might have missed the ugly first-quarter report last week from Freddie Mac, the mortgage finance giant that, along with its sister Fannie Mae, soldiers on as one of the financial world’s biggest wards of the state. Freddie — already...