Pelagic Posted March 26, 2015 Share Posted March 26, 2015 Not sure how I missed this but: http://www.bruceberkowitz.net/ Bruce has a blog with analysis / presentations. For example.... http://www.fairholmeonimperial.com/ Thanks for sharing. I'm reading through their take on Imperial Metals now, it's very well put together IMO. I found their reaction to the Mount Polley Mine tailing's pond incident interesting and indicative of how they they make decisions. Fairholme preaches "ignore the crowd" and they certainly did just that in this case, conducting their own environmental assessment within days of the incident and making investment decisions based on it rather than the negative press at the time. http://www.fairholmeonimperial.com/mount-polley-mine Link to comment Share on other sites More sharing options...
Mephistopheles Posted March 26, 2015 Share Posted March 26, 2015 Not sure how I missed this but: http://www.bruceberkowitz.net/ Bruce has a blog with analysis / presentations. For example.... http://www.fairholmeonimperial.com/ This blog is too flashy, as opposed to Berkshire's website which is bland. Therefore, Bruce doesn't count as a value investor anymore. Link to comment Share on other sites More sharing options...
hardincap Posted March 27, 2015 Share Posted March 27, 2015 what. is up. with the glamour pic?? I'm almost embarrassed for him. Link to comment Share on other sites More sharing options...
Phaceliacapital Posted March 27, 2015 Share Posted March 27, 2015 Is he having problems with outflows? The site kinda remembers me of Pimco's marketing effort in the FT after Gross left. Link to comment Share on other sites More sharing options...
Liberty Posted March 27, 2015 Share Posted March 27, 2015 Why he needs own domain for investment idea? Isn't link sufficient? http://www.fairholmeonimperial.com/ When you have lots of money, the IT people will convince you it's required ;) Link to comment Share on other sites More sharing options...
innerscorecard Posted March 27, 2015 Share Posted March 27, 2015 I really like the new websites. We should all take advantage of new forms of media in expressing ideas. I'm not very good at that myself, so I just write for now, but photos, videos, and the like convey things a lot better than just words. Link to comment Share on other sites More sharing options...
BargainValueHunter Posted March 27, 2015 Share Posted March 27, 2015 what. is up. with the glamour pic?? I'm almost embarrassed for him. http://en.wikipedia.org/wiki/Cult_of_personality Link to comment Share on other sites More sharing options...
BargainValueHunter Posted March 27, 2015 Share Posted March 27, 2015 http://www.businesswire.com/news/home/20150327005554/en/Fairholme-Funds---Fairholme-Focused-Income-Fund#.VRWWkkY2w7A The Board of Directors of Fairholme Funds, Inc. has approved the re-opening of The Fairholme Focused Income Fund (NASDAQ:FOCIX) to new investors. Effective March 27, 2015, The Fairholme Focused Income Fund (the “Income Fund”) will offer its shares to new investors and begin accepting orders for the purchase of the Income Fund’s shares from new investors. Link to comment Share on other sites More sharing options...
Matson125 Posted April 13, 2015 Share Posted April 13, 2015 Huge difference between Partnership and Mutual Fund returns over the Q. http://insurancenewsnet.com/oarticle/2015/04/13/the-fairholme-partnership-delivers-83-net-return-in-1q-2015-a-612492.html Link to comment Share on other sites More sharing options...
mhdousa Posted April 13, 2015 Share Posted April 13, 2015 Huge difference between Partnership and Mutual Fund returns over the Q. http://insurancenewsnet.com/oarticle/2015/04/13/the-fairholme-partnership-delivers-83-net-return-in-1q-2015-a-612492.html I wouldn't say it's "huge". FAAFX (which has the widest mandate of the mutual funds) returned 4.9% in the 1st Q vs 8.3% for the partnership. Link to comment Share on other sites More sharing options...
Guest notorious546 Posted April 29, 2015 Share Posted April 29, 2015 in Q1/15, berkowitz reduced holdings in AIG 38.40%, BAC by 20.52% while he increased holdings in sears canada 26.37% and imperial metals by 0.58%. http://www.dataroma.com/m/holdings.php?m=fairx Link to comment Share on other sites More sharing options...
muscleman Posted April 29, 2015 Share Posted April 29, 2015 in Q1/15, berkowitz reduced holdings in AIG 38.40%, BAC by 20.52% while he increased holdings in sears canada 26.37% and imperial metals by 0.58%. http://www.dataroma.com/m/holdings.php?m=fairx Interesting that he is cutting back on BAC. Probably due to redemptions? Link to comment Share on other sites More sharing options...
Guest notorious546 Posted April 29, 2015 Share Posted April 29, 2015 in Q1/15, berkowitz reduced holdings in AIG 38.40%, BAC by 20.52% while he increased holdings in sears canada 26.37% and imperial metals by 0.58%. http://www.dataroma.com/m/holdings.php?m=fairx Interesting that he is cutting back on BAC. Probably due to redemptions? we can only speculate who knows... Link to comment Share on other sites More sharing options...
Pelagic Posted April 29, 2015 Share Posted April 29, 2015 in Q1/15, berkowitz reduced holdings in AIG 38.40%, BAC by 20.52% while he increased holdings in sears canada 26.37% and imperial metals by 0.58%. http://www.dataroma.com/m/holdings.php?m=fairx Using the purchase history for BAC provided there and doing a rough weighted average to determine his cost basis for BAC it looks to be around $13. For as bullish as he's been on it I would have expected him to hold on a little longer. Link to comment Share on other sites More sharing options...
CorpRaider Posted April 29, 2015 Share Posted April 29, 2015 It was interesting to see the percentage reductions in the positions and the compare to the weighting in the overall (reported) portfolio. BAC seems to have stayed at about 25%. Looks like maybe he's moving to cash; the 03/31 factsheet says he has about 18% of the 5.75 billion in the fund in cash. Link to comment Share on other sites More sharing options...
brker_guy Posted April 29, 2015 Share Posted April 29, 2015 Out of curiosity, has anyone seen the latest and actual 13F that was filed with the SEC by Berkowitz bc all I saw last night was a filing back in Feb: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001056831&owner=exclude&count=40&hidefilings=0 So where did Dataroma pull this data from? Am I missing something? Thanks! Link to comment Share on other sites More sharing options...
racemize Posted April 29, 2015 Share Posted April 29, 2015 Out of curiosity, has anyone seen the latest and actual 13F that was filed with the SEC by Berkowitz bc all I saw last night was a filing back in Feb: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001056831&owner=exclude&count=40&hidefilings=0 So where did Dataroma pull this data from? Am I missing something? Thanks! I think they pull it from the mutual fund and not the 13F, but I'm not sure. Link to comment Share on other sites More sharing options...
brker_guy Posted April 29, 2015 Share Posted April 29, 2015 Thanks, racemize. I see what you mean now. Mutual Fund report filed: http://www.sec.gov/Archives/edgar/data/1096344/000119312515151683/d904898dnq.htm 13F filing back in Feb: http://www.sec.gov/Archives/edgar/data/1056831/000091957415002087/xslForm13F_X01/infotable.xml Link to comment Share on other sites More sharing options...
Picasso Posted April 30, 2015 Share Posted April 30, 2015 It might be due to the Sears rights offerings? He's going to need a lot of cash for the transaction coming up with Seritage. Link to comment Share on other sites More sharing options...
Matson125 Posted April 30, 2015 Share Posted April 30, 2015 It might be due to the Sears rights offerings? He's going to need a lot of cash for the transaction coming up with Seritage. +1 Link to comment Share on other sites More sharing options...
BargainValueHunter Posted July 17, 2015 Share Posted July 17, 2015 http://www.sec.gov/Archives/edgar/data/1056831/000091957415005471/d6702971_13-g.htm Berkowitz now owns 13.2% of Seritage. Link to comment Share on other sites More sharing options...
OracleofCarolina Posted July 29, 2015 Share Posted July 29, 2015 Semi-annual reports are out. Bruce believes sum of the parts value for Sears is $125. Link to comment Share on other sites More sharing options...
BargainValueHunter Posted July 29, 2015 Share Posted July 29, 2015 Semi-annual reports are out. Bruce believes sum of the parts value for Sears is $125. http://www.valuewalk.com/2015/07/sears-holdings-shld-liquidation/ http://www.valuewalk.com/wp-content/uploads/2015/07/Sears-shld.jpg Link to comment Share on other sites More sharing options...
Matson125 Posted July 29, 2015 Share Posted July 29, 2015 I haven't read the letter yet, does Bruce think the sum of parts is $125 for the assets Sears has left? not including Seritage? Link to comment Share on other sites More sharing options...
adesigar Posted July 29, 2015 Share Posted July 29, 2015 I haven't read the letter yet, does Bruce think the sum of parts is $125 for the assets Sears has left? not including Seritage? While the market is still digesting the facts associated with this recent separation transaction, our updated sum-of-the-parts valuation exceeds $125 per share fully diluted, net of debt. We expect the company’s focus on “profitability instead of revenues” to result in operational efficiencies, expense reductions, and gross margin improvement. Link to comment Share on other sites More sharing options...
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