MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, March 16, 2010 Bruce Berkowitz Amasses AIG Stock, Debt Manager of Fairholme Capital Management's lauded Fairholme Fund, Bruce Berkowitz on Monday divulged that he's recently bought a sizable stake in American International Group, as well as its convertible debt and bonds. Berkowitz, who was named Morningstar's domestic stock picker of the decade, told BusinessWeek that he's purchased over 13 million common shares of AIG and more than 20 percent of the firm's convertible debt. Fairholme stared purchasing shares in the second half of 2009 “as we started to see cash flows of AIG turn positive,” Berkowitz noted to BusinessWeek. “It is still a good company with a good global brand.” AIG stock benefited from the news that the company was selling its two largest non life-insurance businesses. AIG is shopping its AIA Group to Prudential and American Life Insurance Company to MetLife for a combined $51 billion. Printed from: MFWire.com/story.asp?s=31658 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |