Author Topic: Fairholme/Berkowitz  (Read 163411 times)

link01

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Re: Fairholme/Berkowitz
« Reply #10 on: May 29, 2011, 10:48:14 AM »
A couple members of his team recently set out on their own...


yea, markel ventures invested a good chunk of change in them at the get go, btw


rjstc

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Re: Fairholme/Berkowitz
« Reply #11 on: May 30, 2011, 11:05:12 AM »
I recently have done just that.

rjstc

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Re: Fairholme/Berkowitz
« Reply #12 on: July 02, 2011, 04:01:56 PM »
   I have owned Fairholme since he first started the fund and Larry Pitowski and Keith Trauner were with the firm and they had less than $1Billion in their fund.

   I am bothered that Berkowitz is going from a tried and true record of good stock picking only, to getting into an operating company (St. Joe) situation. I don't like him getting bogged down that way even if he says he's backing away now.
   
   There are some good thoughts on this board. What are some on what's been going on lately. Thanks
He has over $200m of his own money in the fund. I believe he has "incentive".
I agree he sure does and I'm sure as good as he is he'll do well for himself and his investors. I guess my thought is Buffett as an example really try's not to get involved in operating company management and stays in his area of expertise which is capital allocation. For Berkowitz his is stock picking and such. I just wonder if he wishes he didn't have the St. Joe distraction.
This is part of a thread I started a short while back. Seems to be getting a little more relevant at this point.

dcollon

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Re: Fairholme/Berkowitz
« Reply #13 on: August 02, 2011, 08:33:46 AM »

BargainValueHunter

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Re: Fairholme/Berkowitz
« Reply #14 on: September 02, 2011, 01:48:45 PM »
http://torontostar.morningstar.ca/globalhome/industry/news.asp?articleid=393286

Quote
Bienvenue knows the northwest Florida real estate markets very well, and the fact that he chose to join St. Joe indicates to us that he sees potential in its portfolio. In addition, the hiring is further evidence that chairman Bruce Berkowitz and vice chairman Charles Fernandez are intent on hiring as many Leucadia folks as needed, something we see as another positive for shareholders. We wouldn't be at all surprised to see more ex-Leucadia people occupying influential positions at St. Joe in the future, nor would we be surprised to see St. Joe adopt a similar corporate strategy several years from now. Berkowitz's affinity for Leucadia is obvious to us, so we wouldn't be surprised to see him push St. Joe in a similar direction longer term.
Albert Einstein called compound interest "the greatest mathematical discovery of all time".

rjstc

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Re: Fairholme/Berkowitz
« Reply #15 on: October 24, 2011, 09:03:18 AM »
He has over $200m of his own money in the fund. I believe he has "incentive".
I agree he sure does and I'm sure as good as he is he'll do well for himself and his investors. I guess my thought is Buffett as an example really try's not to get involved in operating company management and stays in his area of expertise which is capital allocation. For Berkowitz his is stock picking and such. I just wonder if he wishes he didn't have the St. Joe distraction.

Buffett has so many things going on. Member when he went to run Solly and moved to NYC? The thing is these guys have the bandwidth to be involved as long as it's related to business and investing.  This is not hard labor at a mine. This is sitting around and "thinking".
I guess we would have to add the CF distraction to this.

HJ

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Re: Fairholme/Berkowitz
« Reply #16 on: October 24, 2011, 09:24:22 AM »
There's a pretty negative article from Barrons over the weekend, which went into the dynamics of the operations of the fund, and in particular, as it related to the recently resigned brother in law. 

http://online.barrons.com/article/SB50001424052748703927304576637270740785508.html#articleTabs_panel_article%3D1

mpauls

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Re: Fairholme/Berkowitz
« Reply #17 on: October 24, 2011, 09:36:36 AM »
I wouldn't worry too much.  Though it is true that your returns will be less going forward due to the funds size, you'll beat the market over periods of 5 years.  You have to ask yourself, what is it you want in life?  Will you get that with Fairholme?  If the answer is yes then you have one less thing to worry about.  If not, then it's time to identify a new money manager. 
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treasurehunt

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Re: Fairholme/Berkowitz
« Reply #18 on: November 14, 2011, 05:44:30 PM »
Fairholme posted its 13F for the third quarter. Berkowitz has increased his position in both AIG and BAC by buying warrants on top of the common stock. Total value of the portfolio was down to 8.2 billion from 12.9 billion.

A lot of positions -- Berkshire, Goldman, Morgan Stanley, Citi, Regions,  etc -- have been trimmed, presumably to meet redemptions. Berkowitz has completely sold out of Morgan Stanley. The Goldman position is down to almost nothing. There is a small new position in Wells Fargo.

rijk

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Re: Fairholme/Berkowitz
« Reply #19 on: April 26, 2012, 12:07:31 AM »
q1 13f indicates nothing but selling by berkowitz...

note that berkowitz sold over 6% brk, looks like his overall brk holdings are down to approx 2%, he doesn't seem to believe that brk is significantly undervalued at the moment.....

is he building cash or could he be buying in europe?

regards
rijk

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