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Fairholme Fund (FAIRX)

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30,63-0,59 (-1,89 %)
À partir de 8:07AM EDT. Marché ouvert.
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  • T
    This Guy
    $FAIRX conversation
    Breach of fiduciary duty? Wonder why this fund has such a large position in [dying] Sears? Easy - Bruce Berkowitz is on the board of Sears as of 2/25/16. As of 10/29/16, Fairholme owned 26% of the SHLD common stock per SHLD's 10-Q. Think that's bad enough? No, it gets worse. On the same date, Fairholme was also one of the largest lenders to SHLD - $5M of CP, $46M of senior secured notes, $14M of subsidiary notes, and $357M of senior UNSECURED notes. And for kickers, there's also 6.7M warrants to purchase more shares. But wait Johnny, there's more! Throw in the 20% stake in Sears Canada common, 11% of spinoff Lands' End, 14% of Seritage's (SHLD's REIT) A shares, 100% of Seritage's (non-voting) C shares. At least there's a 2015 shareholder lawsuit of breach of fiduciary duty. This fund is nothing but a way to prop up Sears with your (fund owners') money.
  • c
    chris
    $FAIRX conversation
    Didn't they sell Berkshire Hathaway to buy more Sears ?
  • B
    Bikerguy
    $FAIRX conversation
    10 years later this moron is still holding shld at almost 6% of the portfolio....it was not good enough to sell at 125 dollars so now when the company goes BK, shareholders may get back .01 a penny on the dollar.
  • D
    David
    $FAIRX conversation
    all those SRSC shares bought at $9.50 per share are really paying off
    the SHLD titanic is ready to go under
    the geru jumped out of AIG a little early it appears

    long term value investor needs new glasses
  • R
    Raj
    $FAIRX conversation
    Not that I am complaining..Anybody here have an insight about the 10% spike today?
  • D
    David
    $FAIRX conversation
    well, FNMA is getting squashed with Judge rulings
    SHLD is on it's last leg , they had to borrow $300 million from Eddie/ESL because nobody else will lend to them

    must really feel good to be paying all those fees
  • T
    Tom
    $FAIRX conversation
    Has anyone done a calculation of the impact of a Fannie Mae and Freddie Mac settlement would have on Fairholme's value?
  • L
    Lorin
    $FAIRX conversation
    Think the bloodshed is over? Or will we go further down?
  • H
    Han
    $FAIRX conversation
    Don't Get Sucked in by Fairholme Fund's Great Long-Term Record
    All in all, Fairholme is a good fund to watch for entertainment value and to see what Berkowitz is up to. But don\'t be tempted to invest in it. It\'s too risky. Berkowitz should close it for good to new investors.
    www.kiplinger.com