Bruce berkowitz aig thesis

N as the insurer plans a capital restructuring to pay back taxpayers and restore its financial stability. The standstill agreement is to run until October 6 or 24 hours after AIG makes public the same materials, whichever comes first. That could be a sign that Berkowitz is willing to put up additional capital as AIG seeks to boost its credibility with other big investors, analysts said.

Bruce berkowitz aig thesis

Berkowitz Published on October 13, According to an article on Barron. Joe Company this morning at the Value Investing Congress. He is most well known for his early warnings forecasting the demise of Lehman Brothers.

In the case of St.

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Einhorn is taking a position directly opposite to many other prominent value investors, most notably Bruce Berkowitz who controls 29 percent of St. Joe shares through The Fairholme Fund.

Beautiful Land or Dreary Acreage? The recent opening of a new international airport built on land donated by St. Joe is supposed to serve as a catalyst for tourism and vacation housing.

While the land holdings are within close proximity of the Gulf Coast, it appears that the company escaped major direct impact from the Deepwater Horizon oil spill, although St. Joe has filed lawsuits alleging related economic damages including a claim against Transocean filed on October Einhorn cast doubt on the quality of St.

The bearish thesis seems to rest on the assumption that St. Joe has overstated the value of its remaining land holdings. With the best acreage sold during the real estate boom, Mr. Einhorn was asked about Mr.

Joe and said that he reached out to debate the stock with him but is still waiting for a response. The video below from May features Mr. Berkowitz presenting the bullish case for St.

Bruce Berkowitz Explains Why MBIA and Sears Are Attractive

According to more recent comments as well as his continued ownershipit appears that his views remain basically unchanged: Do Your Own Work… Many investors closely monitor the holdings of well regarded managers when searching for investment candidates.

This practice makes a great deal of sense as part of an idea sourcing strategy, but it is never a good idea to simply follow a well regarded investor into a stock. As we can see from the case of St. Joe, well regarded value investors will excellent track records can look at the same set of facts and come to completely opposite conclusions.

Bruce berkowitz aig thesis

Joe, but it is clear that both Mr. We have no position regarding whether the bullish or bearish thesis for St. One of the reasons is that St. Joe may be one situation where the company cannot be evaluated properly without actually looking at the land in question directly.

Bruce berkowitz aig thesis

Joe shares are actually buying acreage, and clearly the beauty or lack thereof of this land is in the eye of the beholder.New York-based hedge fund Kerrisdale Capital has launched a short-selling attack on St. Joe Company, the top holding in Bruce Berkowitz’s Fairholme fund..

St. Joe Company is a real estate development firm on the Florida Panhandle with building rights to a vast amount of land across the region.

Bruce Berkowitz has said that his deep value and contrarian investing style will not guarantee short-term results, but he promises his shareholders will be rewarded for their patience over the long term.

GM to Acquire AmeriCredit; Revisiting Berkowitz’s Bullish Thesis – The Rational Walk

As a wretched draws to a close, Bruce Berkowitz displays mixed emotions. On the one hand, Fairholme fund, which he's run since its late launch, is again beating the stock market (by.

Bruce Berkowitz remembers vividly his days growing up on Washington Avenue, attending the Prattville, Carter, and Williams schools, enjoying the company of good friends and the good times at the old Chelsea Y.M.H.A.

Bruce Berkowitz (Trades, Portfolio): As we have written in all of our letters, we bought AIG at substantial discount to tangible book value ("TBV").

We had a simple thesis that AIG still had a franchise value, and that AIG (AIG) was worth at least TBV. Labels: aig, bruce berkowitz, case study, fairholme, FAIRX, investor letters, presentations Bruce Berkowitz's Investment Thesis on AIG (Slideshow Presentation) Bruce Berkowitz of Fairholme Capital has put together a case study on his investment in American International Group (AIG).

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