Bruce Berkowitz Comes out of the Woods, Says He Likes BAC

Bruce Berkowitz Comes out of the Woods, Says He Likes BACFairholme Capital Management’s Bruce Berkowitz told Bloomberg TV’s Dominic Chu that he still really likes Bank of America even though the stock crushed his fund last year.

“In the banking, I feel most comfortable with Bank of America.  I like what Brian Moynihan is doing.  I like the trends.  I like the honesty,” the mutual fund manager, who is known for his bullish bets on financials, told Bloomberg TV.

“We always told our shareholders ‘don’t judge us based on short-term performance.’  In bad times the same should be true.”

Charlie Munger: Invert And Use “Disconfirming Evidence”

Charlie MungerCharlie Munger is considered to be one of the best investors and thinkers alive today. His thoughts and statements on investment research, investment psychology, and general rational behavior are often incredibly insightful. Anyone can learn something from this billionaire investor and philosopher. Q2 2020 hedge fund letters, conferences and more If you’re looking for value Read More

“It’s long-term.  It’s a long race.  We’re in it for many, many years.  We want to do what’s right for our shareholders over a long-term period,” he added.