Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
I just received my most recent fund performance update from the Fairholme Fund. The manager, Bruce Berkowitz holds nearly 23% of the outstanding shares in the fund. I wonder where his interest lies in terms of seeing that the fund does well.
If he owns 23% of the shares, I'd say he has a strong interest in seeing that the fund does well. I don't always agree with Berkowitz (see SHLD - I still believe Berkowitz should have taken the profit when he had it when SHLD was over $100), but I will say that I think he's an excellent investor overall.
Reply to @David_Snowball: Oops, I should know better. My apologies. Fat-fingered calculator entries or something. Anyway, I doubt he's sweating too much about the $10 million as he also stated in his update that he expected the value of shares in the fund to be significantly higher by years end. I will be watching.
Comments
Which also implies that he lost . . . oh, $10 million on Monday.
David