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It looks like Bruce Berkowitz Has Lost It and Is No Longer Talented


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http://blogs.barrons.com/focusonfunds/2011/04/13/fairholme-bleeds-assets-in-march-ben-t-rowe-blackrock-gain-inflows/?mod=BOLBlog

 

Notable outflows highlighted by individual funds in the report included the Bruce Berkowitz led Fairholme Fund (FAIRX). It had some $300 million in March outflows — the first significant outflows in two years.

 

“Granted, the fund has struggled during the past 12 months, landing near the bottom of the large-value category during that time,” says Morningstar. “Some investors and journalists are already wondering whether Berkowitz has lost it.”

 

The title is sarcastic, by the way...  :P

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  • 4 years later...

Losing focus on his investments?

 

http://www.miamiherald.com/news/local/community/miami-dade/article25547224.html

 

“We keep asking, asking, asking. We keep modifying and so on,” a frustrated-sounding Berkowitz said. “We got nothing. We can’t get a response. I had a meeting with my people. I said, ‘We’re not getting anywhere, so let’s be done with it.’ We’re going to move on. I’m crying uncle.”
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Approval by SEC and FCC of his new (glamour) headshots to be used in marketing materials. There were concerns they might prove distracting to Miami motorists and too alluring to retail investors who would be tempted to try and invest in his hedge funds. 

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Approval by SEC and FCC of his new (glamour) headshots to be used in marketing materials. There were concerns they might prove distracting to Miami motorists and too alluring to retail investors who would be tempted to try and invest in his hedge funds.

 

Especially the digital one they plan to put up in Miami.  It will show his hair digitally blowing with the sea breeze...quite a feat of technology.  There was a lot of debate at the city council meeting whether to allow him to have his 3 top buttons unbuttoned, or let him go to 5.

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Bruce Berkowitz is a huge net positive to society in my opinion.  I understand zoning regs are generally good and  meant to keep things in order, etc. and I've no clear assessment as to if his plans are reasonable in this respect, but it saddens me to see people criticize the man when he trying to bring more art into the world and be charitable. 

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This little bit really resonated with me from Stanley Druckenmiller.  Its from a Bloomberg article where he's talking about picking managers:

 

Druckenmiller looks for “almost a sick compulsion to win and compete.” Citing his own experience, he said that passion fades when managers have other interests, including children.

 

“Go young,” he advised the audience, saying that the best money managers are between 35 and 45 years old.

 

http://www.bloomberg.com/news/articles/2015-05-13/druckenmiller-says-rates-could-remain-near-zero-10-years

 

 

 

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it saddens me to see people criticize the man when he trying to bring more art into the world and be charitable.

 

I believe the jokes are mostly at his self-promotion, not at his art and charitable endeavors.

 

Unfortunately, the Miami building is a mix: yes, it brings art, but it's also an office building for his company. So you might consider the criticism against it a criticism on art/charity, but others might see at as criticism of office that tries to be built under the guise of museum...

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it saddens me to see people criticize the man when he trying to bring more art into the world and be charitable.

 

I believe the jokes are mostly at his self-promotion, not at his art and charitable endeavors.

 

Unfortunately, the Miami building is a mix: yes, it brings art, but it's also an office building for his company. So you might consider the criticism against it a criticism on art/charity, but others might see at as criticism of office that tries to be built under the guise of museum...

 

Compared to the rest of the "architecture" in that area of Miami his building would be a welcome relief. You have a mix of older, small condo buildings and private homes in the quarter mile or so strip of land between Biscayne Boulevard and the Bay but once you move west of Biscayne Boulevard its warehouses with the occasional junkyard thrown in. The planning commission criticizing it on the basis of some kind of "standard" it doesn't live up to is laughable when you only need to walk a couple blocks to find junkards with scrap cars and 10 foot barbed wire fences.

 

The building isn't my cup of tea but if he wants to spend his money on it, I say go for it, just about any well maintained, new building would be a positive for that area.

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Right, I don't know Miami at all and I don't think I expressed opinion about the building at all. IMHO it looks OK on paper. I'll let the locals discuss who's wrong or right regarding the building.

 

I still think that pushing office as a museum might have rubbed some people wrong way. Sure, it is partially museum, but it does seem primarily an office. :)

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