Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:A Superstar PM Warms Up to 'Under the Weather' Stocks
 Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, July 29, 2010

A Superstar PM Warms Up to 'Under the Weather' Stocks

News summary by MFWire's editors

Fundsters undecided on the U.S. financial sector take note: Bruce Berkowitz is still bullish on the sector. In today's Wall Street Journal Fund Track, Berkowitz said he started buying shares of Morgan Stanley in the second quarter and now holds a stake just under two percent, making his Fairholme Fund a top 10 holder in the company, with some 25 million shares.

Berkowitz reportedly said the bank is a "powerful franchise ... that has been under the weather with most other financials in the United States." Morgan Stanley shares have dropped 11 percent over the past three months and are down some 1.5 percent over the past 12 months.

Berkowitz's $14.7 billion Fairholme Fund also holds shares in Citigroup Inc. and Bank of America Corp. His bullish bets on Morgan Stanley, valued at about $700 million, makes up some five percent of the fund. Earlier this month, Berkowitz also disclosed a stake in American International Group Inc., and MBIA Inc., resulting in a spike in both companies' "under the weather" shares.  

Edited by: Hung Tran


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use