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Answers From Bruce Berkowitz Of Fairholme Fund; Comment On Banks, Insurers And S


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I'll only invest in STD under the following conditions:


1) I am using protection

2) They implement a huge buyback program


I know, an unfortunate ticker.


Whether they continue to return cash to shareholders via dividends or buybacks, I will be happier with the more efficient of the two.  I will leave the emotional/religious preferences to other people like you.


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Glad to see he likes Banco Santander -- I bought some recently.


Only 16% of their assets in Spain/Portugal and most Latin American operations in the top 3 by country with ROEs in the 25% range. Currently priced at 1x BV.




I hope you get your next European scare (I will buy more).


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