It is winter fund raising season on public television which means that WEALTHTRACK might be pre-empted on your local television station.
We are revisiting an exclusive interview we had with the Fairholme Fund’s Bruce Berkowitz this fall. Berkowitz is a Great Investor who always generates a great deal of interest and controversy because of his deep value and extremely “concentrated” investment approach. This time was no exception! The week after the interview a Federal Court judge dismissed a lawsuit Fairholme and others had filed against the U.S. Treasury Department over its 2012 decision to take all of the profits generated by mortgage giants Fannie Mae and Freddie Mac. Fairholme has a big position in both. In a message to shareholders Berkowitz said we “strongly disagree with the court’s conclusions,…and will continue to pursue our legal rights”…including continuing another lawsuit to obtain “just compensation” for minority shareholders. Continue Reading »