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Friday, October 15, 2010

Berkowitz Battles a Hedger

News summary by MFWire's editors

Bruce Berkowitz is facing off against a famous short-seller. Today the New York Post's Kaja Whitehouse reports on the dispute between Fairholme's [see profile] Berkowitz and hedge fund manager David Einhorn. Einhorn gave a speech in Manhattan on Wednesday, attacking a real estate developer named St. Joe. Meanwhile, Berkowitz boosted Fairholme's stake in the same developer to more than 29 percent (see filings here and here).

Einhorn reportedly claimed to have sent Berkowitz a letter about St. Joe. Yet Einhorn said he never heard back, and Berkowitz declined to comment to the post. 

Edited by: Neil Anderson, Managing Editor


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