Berkowitz is Getting His Butt Kicked on This Financial Investment...
Get Alerts AIG Hot Sheet
Join SI Premium – FREE
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Legacy Credit Reports Over 5% Stake in VCI Global (VCIG)
- Ancora Sends Important Letter to Fellow Shareholders on Norfolk Southern (NSC) Turnaround Plan
- Marriott Vacations Worldwide (VAC) ticks higher on new activist investor
Create E-mail Alert Related Categories
Hedge FundsRelated Entities
Citi, Fairholme Capital Management, Bruce BerkowitzSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!