Fairholme Funds and Bruce Berkowitz had another fabulous year in many of the same positions that we are heavy in at T&T Capital Management (TTCM).  He has large positions in AIG, Bank of America and Sears Holdings to name a few.  I found it very interesting that he mentioned his appraisal of Sears’s NAV to...Read More

Those who are familiar with me know that there are very few investors that I respect more than Bruce Berkowitz of Fairholme Funds.  His analysis is always cogent and persuasive, while he doesn’t cater to short-termism like 99% of Wall Street.  I was disgusted in 2011 when he had his only really rough year, when...Read More

Another absolutely fabulous interview with Fairholme Funds Bruce Berkowitz on Wealthtrack.  If you want to be a successful investor listen to what he says, and apply it to your own investment philosophy.  Patience, discipline, and conviction based on facts are the keys to seeing significant outperformance as an investor.  I have a ton of respect...Read More

Fund Manager Daniel Loeb sees the same opportunity in AIG that we do at TTCM, and Fairholme Funds led by Bruce Berkowitz does as well. This is a unique franchise trading at an absurdly low valuation based on a horrible recent history, in which the problems were primarily caused by one unit. Robert Benmosche has...Read More

One of Bruce Berkowitz’s most controversial positions is MBIA.  This is the bond insurance company which has had its ratings dramatically reduced and is engulfed in several significant lawsuits which should have a material impact on the business, and in turn the equity of the company.  Below is Berkowitz’s investment thesis on the company.  At...Read More

http://www.fairholmefunds.com/sites/default/files/120815%20SHLD%20Presentation.pdf INVESTING IN THE FINANCIAL MARKETS INVOLVES RISKS. OPTIONS ARE NOT SUITABLE FOR ALL INVESTORS.Read More

Once again Bruce Berkowitz of Fairholme Funds produces one of the best shareholder letters of anyone in the business.  His patience and discipline is truly exceptional and I couldn’t agree with his sentiments any more.  It’s amazing how many investors left him after one bad year and have missed out on a nice recovery, which...Read More

One of my favorite investors Bruce Berkowitz of Fairholme Funds posted a new slide show today.  He correctly identifies the difference between volatility and risk as defined by a permanent loss of capital.  In this market anything with the perception of risk is being punished quite viciously as the macroeconomic situation is trumping individual stock...Read More

One of the biggest problems with mutual funds is that investors chase past performance.  They get in at the worst times when the stock in the funds are most expensive, and they get out when stocks are cheap and short term performance has lagged.  Despite Bruce Berkowitz’s excellent long term and current year track records,...Read More

As usual Bruce Berkowitz and Fairholme Funds do an excellent job outlining the investment thesis for AIG which is probably our number one idea right now at TTCM.  Very few fund managers are as comfortable going against the grain as Berkowitz is, and I really admire that quality in addition to his phenomenal analysis. http://www.fairholmefunds.com/pdf/CaseStudyII.pdf...Read More