Fairholme 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 posted a return of 3.3% net of fees in August, according to a copy of the fund's letter, which ValueWalk has been able to review. Q3 2021 hedge fund letters, conferences and more Following this performance, for the year to the end of August, the fund has produced a 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.