ni-co 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 Which jackass drew up those price targets? 3bn market cap if Eddie succeeds in turning the company?! ;D ;D ;D SHLD would have to shrink its revenues by 80% to come anywhere near 3bn market cap in case of profitability. Link to comment Share on other sites More sharing options...
valueyoda Posted July 30, 2015 Share Posted July 30, 2015 $125 price target post Seritage is ridiculous, especially given the ongoing cash burn and the diminished value of home services, Kenmore, Craftsman, Auto centers. Link to comment Share on other sites More sharing options...
BargainValueHunter Posted August 1, 2015 Share Posted August 1, 2015 http://www.miamiherald.com/news/politics-government/article29656183.html Bruce Berkowitz, head of Miami-based Fairholme Capital Management, gave $150,000 to Right to Rise, the PAC backing Jeb Bush’s presidential campaign. Link to comment Share on other sites More sharing options...
valueinvestingideas Posted August 18, 2015 Share Posted August 18, 2015 Looks like he took down his blog? http://www.bruceberkowitz.net/ no longer loads for me atleast Link to comment Share on other sites More sharing options...
CorpRaider Posted August 20, 2015 Share Posted August 20, 2015 Yeah, I couldn't find it on GOOGL. Link to comment Share on other sites More sharing options...
BargainValueHunter Posted November 17, 2015 Share Posted November 17, 2015 Sears is now Fairholme's #1 position: http://www.bloomberg.com/news/articles/2015-11-16/berkowitz-s-fairholme-sold-almost-all-its-aig-shares-in-quarter Fairholme Capital’s largest position as of Sept. 30 was Sears Holdings Corp., whose shares have declined 24 percent in 2015. Link to comment Share on other sites More sharing options...
Gallego Posted November 17, 2015 Share Posted November 17, 2015 He still has a large position in AIG warrants. Regards Link to comment Share on other sites More sharing options...
orthopa Posted November 17, 2015 Share Posted November 17, 2015 Sears is now Fairholme's #1 position: http://www.bloomberg.com/news/articles/2015-11-16/berkowitz-s-fairholme-sold-almost-all-its-aig-shares-in-quarter Fairholme Capital’s largest position as of Sept. 30 was Sears Holdings Corp., whose shares have declined 24 percent in 2015. Yeah sold out of all of AIG except warrants and BAC. Wonder if this is due more to redemption's or he thinks they have reached full value. Hard to think these reached full value if rates do eventually rise. Maybe the readthough is that he believes rates wont rise any time soon. I dont think many shareholders are going to love that SHLD is his biggest position. That position hasnt worked out for a long time and unless your really patient money I can see some getting sick of waiting. Link to comment Share on other sites More sharing options...
doughishere Posted November 17, 2015 Share Posted November 17, 2015 Just Came in an email. We are pleased to announce that The Fairholme Allocation Fund (FAAFX) will re-open to new investors effective Wednesday, November 18, 2015. The November 17, 2015, press release, which can be found by visiting http://fairholmefunds.com/press-releases, describes the re-opening of the Fund in further detail. The Manager reserves the right to change or modify the recommencement or suspension in the future. Sincerely, Fairholme Funds, Inc. The Funds' investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the Funds, and it may be obtained by calling Shareholder Services at 1-866-202-2263 or visiting our website www.fairholmefunds.com. Read it carefully before investing. Fairholme Funds, Inc. Link to comment Share on other sites More sharing options...
fareastwarriors Posted November 18, 2015 Share Posted November 18, 2015 Sears is now Fairholme's #1 position: http://www.bloomberg.com/news/articles/2015-11-16/berkowitz-s-fairholme-sold-almost-all-its-aig-shares-in-quarter Fairholme Capital’s largest position as of Sept. 30 was Sears Holdings Corp., whose shares have declined 24 percent in 2015. Yeah sold out of all of AIG except warrants and BAC. Wonder if this is due more to redemption's or he thinks they have reached full value. Hard to think these reached full value if rates do eventually rise. Maybe the readthough is that he believes rates wont rise any time soon. I dont think many shareholders are going to love that SHLD is his biggest position. That position hasnt worked out for a long time and unless your really patient money I can see some getting sick of waiting. At least he didn't buy VRX... ;D ;D ;D Link to comment Share on other sites More sharing options...
doughishere Posted November 18, 2015 Share Posted November 18, 2015 Sears is now Fairholme's #1 position: http://www.bloomberg.com/news/articles/2015-11-16/berkowitz-s-fairholme-sold-almost-all-its-aig-shares-in-quarter Fairholme Capital’s largest position as of Sept. 30 was Sears Holdings Corp., whose shares have declined 24 percent in 2015. Yeah sold out of all of AIG except warrants and BAC. Wonder if this is due more to redemption's or he thinks they have reached full value. Hard to think these reached full value if rates do eventually rise. Maybe the readthough is that he believes rates wont rise any time soon. I dont think many shareholders are going to love that SHLD is his biggest position. That position hasnt worked out for a long time and unless your really patient money I can see some getting sick of waiting. At least he didn't buy VRX... ;D ;D ;D Bruce has done a few of deals with Ackman....im sure hes well aware of the situation. I wouldn't be surprised if hes at least looked at it. Link to comment Share on other sites More sharing options...
BargainValueHunter Posted November 18, 2015 Share Posted November 18, 2015 ...just noticed he is nibbling at SHOS too plus he is upping his holdings of SRSC. He is all over the Sears universe in his portfolio. I HAVE to believe he has had at least ONE conversation with his fellow nuevo Floridian Eddie Lampert. :P Link to comment Share on other sites More sharing options...
Picasso Posted November 18, 2015 Share Posted November 18, 2015 I for one am disappointed that Berkowitz didn't add VRX or SUNE to the portfolio. Come on Bruce, jump outside your circle of competence like the rest of us! Link to comment Share on other sites More sharing options...
merkhet Posted November 18, 2015 Share Posted November 18, 2015 ...just noticed he is nibbling at SHOS too plus he is upping his holdings of SRSC. He is all over the Sears universe in his portfolio. I HAVE to believe he has had at least ONE conversation with his fellow nuevo Floridian Eddie Lampert. :P He actually does speak with ESL. Confirmed by myself and another poster at an event last year. Unclear how often they speak, but I have to think it's pretty often given his concentration in the Sears universe. Link to comment Share on other sites More sharing options...
Mephistopheles Posted November 18, 2015 Share Posted November 18, 2015 I for one am disappointed that Berkowitz didn't add VRX or SUNE to the portfolio. Come on Bruce, jump outside your circle of competence like the rest of us! LOL Link to comment Share on other sites More sharing options...
BargainValueHunter Posted January 21, 2016 Share Posted January 21, 2016 He just keeps on buying... http://www.emqtv.com/bruce-r-berkowitz-purchases-142000-shares-of-sears-holdings-corp-shld-stock/147696/ Bruce R. Berkowitz bought 142,000 shares of the firm’s stock in a transaction dated Tuesday, January 19th. The shares were acquired at an average price of $17.39 per share, for a total transaction of $2,469,380.00. Link to comment Share on other sites More sharing options...
valueyoda Posted January 22, 2016 Share Posted January 22, 2016 Either he and Eddie have a very tight game plan mapped out, or in case he bought it as a general investment because he thinks it is cheap, he is going to lose badly on this investment in the end. Link to comment Share on other sites More sharing options...
Eye4Valu Posted January 22, 2016 Share Posted January 22, 2016 He is super convinced its worth $125 a share. Link to comment Share on other sites More sharing options...
JRH Posted January 22, 2016 Share Posted January 22, 2016 Either he and Eddie have a very tight game plan mapped out, or in case he bought it as a general investment because he thinks it is cheap, he is going to lose badly on this investment in the end. I don't think it's the "tight game plan". He has given a couple of answers again, and again, and again, when people ask: 1) The real estate is worth a ton of money. More recently, he has stated that this is a) confirmed by the Seritage spin-off, and b) the remaining, non-spun real estate is substantially similar to what went to Seritage. 2) The guarantor/non-guarantor structure matters (I must be an idiot for mentioning this, essentially encouraging the same debate to occur for the 73rd time...) Link to comment Share on other sites More sharing options...
adesigar Posted February 3, 2016 Share Posted February 3, 2016 Annual report for 2015 is out. http://www.fairholmefunds.com/reportsmgt/ Link to comment Share on other sites More sharing options...
Txvestor Posted February 3, 2016 Share Posted February 3, 2016 He is super convinced its worth $125 a share. You are probably correct in assuming that he is super convinced. However the issue is that super convinced, then super wrong is how you make super losses. :) You have to be right damn near 100% of the time when you take such high AUM % positions. Link to comment Share on other sites More sharing options...
Jurgis Posted February 3, 2016 Share Posted February 3, 2016 I for one am disappointed that Berkowitz didn't add VRX or SUNE to the portfolio. Come on Bruce, jump outside your circle of competence like the rest of us! Done. Link to comment Share on other sites More sharing options...
Guest wellmont Posted February 3, 2016 Share Posted February 3, 2016 interesting. he's setting up his portfolio to benefit from the RAVAGES of inflation... Link to comment Share on other sites More sharing options...
Picasso Posted February 3, 2016 Share Posted February 3, 2016 I for one am disappointed that Berkowitz didn't add VRX or SUNE to the portfolio. Come on Bruce, jump outside your circle of competence like the rest of us! Done. He's transitioning the fund from deep value to deep YOLO. Link to comment Share on other sites More sharing options...
ni-co Posted February 4, 2016 Share Posted February 4, 2016 I for one am disappointed that Berkowitz didn't add VRX or SUNE to the portfolio. Come on Bruce, jump outside your circle of competence like the rest of us! Done. This is just hilarious. Link to comment Share on other sites More sharing options...
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