Bruce Berkowitz, manager of The Fairholme Fund, last week gave an in-depth interview to Consuelo Mack of WealthTrack, the public television show that focuses on long-term investing. Berkowitz explained the rationale for investing in beaten-down financial stocks and the potential for rewarding long-term returns.
He also specifically addressed concerns with the fund's investments in Bank of America and insurer AIG. Berkowitz said that Bank of America, which is trading around $7 per share, is currently worth about $20 per share and in 10 years may be worth $40 per share.
To read a transcript of the interview, click here. Or you can download a podcast from iTunes or watch the 26-minute interview on YouTube.
Fairholme is a component of the Bradway Strategic Portfolio, which consists primarily of investments with top money managers.
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