Berkowitz is Getting His Butt Kicked on This Financial Investment...
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Though his stake might be lower now, Bruce Berkowitz's Fairholme Capital has had a tough six-month span.
Fairholme moved its stake in American International Group (NYSE: AIG) from 44,198,015 shares at the end of the first quarter, to 103,164,517 shares in the second-quarter, and down to 101,481,743 shares by the end of the most recent quarter.
AIG ended trading at $35.14 on March 31st, and traversed 36.2 percent lower to its current trading price of $22.41. That equates to a paper loss of $12.73 per share, or about $1.29 billion.
Shares of AIG are down 4 percent on the session, and have returned to the same price level they were at in early 2010.
Oh, and Berkowitz also has larger holdings in Citi (NYSE: C), Bank of America (NYSE: BAC), and CIT Group (NYSE: CIT) as well.
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Fairholme moved its stake in American International Group (NYSE: AIG) from 44,198,015 shares at the end of the first quarter, to 103,164,517 shares in the second-quarter, and down to 101,481,743 shares by the end of the most recent quarter.
AIG ended trading at $35.14 on March 31st, and traversed 36.2 percent lower to its current trading price of $22.41. That equates to a paper loss of $12.73 per share, or about $1.29 billion.
Shares of AIG are down 4 percent on the session, and have returned to the same price level they were at in early 2010.
Oh, and Berkowitz also has larger holdings in Citi (NYSE: C), Bank of America (NYSE: BAC), and CIT Group (NYSE: CIT) as well.
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Citi, Bank of America, Fairholme Capital Management, Bruce Berkowitz
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