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

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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.”

Carlson Capital’s Double Black Diamond Fund Posts 3.3% Return In August

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“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.

 

http://www.businessinsider.com/author/julia-la-roche

 

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