claphands22 Posted September 8, 2011 Share Posted September 8, 2011 I am looking for the December 1992 OID Interview with Berkowitz where he discusses his WFC thesis. If anyone could tell me where I could find it, or e-mail it to me at wallis.joshua@gmail.com . I would really appreciate it. Thanks! Link to comment Share on other sites More sharing options...
A_Hamilton Posted September 8, 2011 Share Posted September 8, 2011 I am looking for the December 1992 OID Interview with Berkowitz where he discusses his WFC thesis. If anyone could tell me where I could find it, or e-mail it to me at wallis.joshua@gmail.com . I would really appreciate it. Thanks! Go to Fairholmefunds.com Click "Fairholme News" Go to page 9 Click on the 1992 OID Article. Link to comment Share on other sites More sharing options...
BargainValueHunter Posted September 8, 2011 Share Posted September 8, 2011 http://www.fairholmefunds.com/pdf/oid1992.pdf Link to comment Share on other sites More sharing options...
Parsad Posted September 8, 2011 Share Posted September 8, 2011 Great interview! The comments could simply be transported from 1992 and printed in 2011 about Bank of America. Cheers! Link to comment Share on other sites More sharing options...
elltel Posted September 8, 2011 Share Posted September 8, 2011 agree... fantastic article. on a side note - has anyone heard from OID recently? They have gone very quiet in recent years. Link to comment Share on other sites More sharing options...
mevsemt Posted September 8, 2011 Share Posted September 8, 2011 Given that AIG occupies something like 20% of his assets, I'm wondering if AIG is a similarly attractive opportunity (as opposed to BAC) as WFC in the early 90's. Link to comment Share on other sites More sharing options...
claphands22 Posted September 8, 2011 Author Share Posted September 8, 2011 Thanks! Link to comment Share on other sites More sharing options...
PlanMaestro Posted September 8, 2011 Share Posted September 8, 2011 Great interview! The comments could simply be transported from 1992 and printed in 2011 about Bank of America. Cheers! Except for the putbacks and Europe Link to comment Share on other sites More sharing options...
Cardboard Posted September 9, 2011 Share Posted September 9, 2011 Isn't AIG the perfect take-over candidate for Berkshire? He could likely get this thing for $50 or under book value and would generate at the same time a nice gain for the American taxpayers who is desperate to sell. It is an elephant with massive float which he could deploy better while cutting investment staffing and get his hands on a premier insurance company generating strong recurring revenues and earnings. He has owned the shares before or until early 2000 (maybe it was Simpson who bought it, but he sure knows it). The only issue I see are concerns around monopolistic power. Cardboard Link to comment Share on other sites More sharing options...
BargainValueHunter Posted September 9, 2011 Share Posted September 9, 2011 Isn't AIG the perfect take-over candidate for Berkshire? He could likely get this thing for $50 or under book value and would generate at the same time a nice gain for the American taxpayers who is desperate to sell. It is an elephant with massive float which he could deploy better while cutting investment staffing and get his hands on a premier insurance company generating strong recurring revenues and earnings. He has owned the shares before or until early 2000 (maybe it was Simpson who bought it, but he sure knows it). The only issue I see are concerns around monopolistic power. Cardboard I'd think that AIG is deep in Warren's "Too Hard" Pile. He could do a deal with them similar to the BAC deal, however. I'd expect to see that in early to mid 2012. Also I'm thinking that Warren is looking hard at MBIA and CIT but is keeping quiet... Link to comment Share on other sites More sharing options...
Ravi Posted September 9, 2011 Share Posted September 9, 2011 Great interview. I can relate to this after working for a big bank Link to comment Share on other sites More sharing options...
hyten1 Posted September 9, 2011 Share Posted September 9, 2011 it does seem to me in the OID interviews bruce gave so much of facts and figures as for recent bac etc interviews not much Link to comment Share on other sites More sharing options...
BargainValueHunter Posted September 9, 2011 Share Posted September 9, 2011 it does seem to me in the OID interviews bruce gave so much of facts and figures as for recent bac etc interviews not much Perhaps he knows that media and information is extremely pervasive now vs. 1992. With that and the fact that his words can move prices now he is a lot... more... careful about what he says to the microphones and cameras. Self preservation. Link to comment Share on other sites More sharing options...
hyten1 Posted September 9, 2011 Share Posted September 9, 2011 also i think bruce's approach this time is different, he has spread his exposure to essential the entire financial system, owning bunch of financial institutions in 1990's he was so confident about wells he put in 33% just in wells i wish i can understand AIG, since he has 20%+ percent in it (including aia) Link to comment Share on other sites More sharing options...
seshnath Posted September 11, 2011 Share Posted September 11, 2011 on a side note - has anyone heard from OID recently? They have gone very quiet in recent years. The last issue I received was over a year ago, if I remember correctly. It mentioned something about death in the family of the publishers and the resulting delays. I wasn't sure if my subscription expired. Link to comment Share on other sites More sharing options...
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