Smart man. Good returns. Its sad when the govt does not respect ownership. Such a good story. Be wary of highly regulated companies is the lesson learned.
Precisely. I stopped watching this video once I heard that. How can he claims to be a good fiduciary to his fund shareholders when he charges the hefty fee while being so concentrated? People can simply buy that stock themselves.
You pay him to select that one company. If you can select one company every few years that consistently outperforms - than you’re right - don’t pay a fund manager
From the looks of the fairholme portfolio freddie mae now only consist of 0.65% of assets so even if he gets par value on the preferred it'll only generate 6.5% return on his portfolio.
If you look at how FAIRX has done over the past 23 years or so, especially if you account for the expense ratio, you would have done better just sticking your money in 30 yr treasuries or 10 yr treasuries and rolling them over ever year or so.
right, he was too stubborn for few years, that cost him big time.. Bill Ackman was almost on the same route, but pivoted and it wasn't disaster like Bruce, but good to see him back doing interviews.
I was able to get out of this years ago with minimal losses. I am sure many not so lucky. He has been a disaster for many many many years now. He should have known better than to think the FED govt was going to hand him a pot of gold....and Sears was another epic disaster.
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Thank you Consuelo. I appreciated Bruce.
Enjoyed seeing Bruce B.
Thanks for this. I'm a huge EPD holder. It makes up 7% of my portfolio
What a delightful down-to-earth man. He was refreshing.
CONSUELO you and your show opened my mind very much while I was detained. I appreciate all You and Your team are ❤
I love this guy. Nice to hear from him.
Smart man. Good returns. Its sad when the govt does not respect ownership. Such a good story. Be wary of highly regulated companies is the lesson learned.
Best video Bruce Is a legend ... his days are coming 💫
Did you say invested 80% in just one stock? Why invest in the fund then, and pay the fees; just own that stock?
Precisely. I stopped watching this video once I heard that. How can he claims to be a good fiduciary to his fund shareholders when he charges the hefty fee while being so concentrated? People can simply buy that stock themselves.
Seems like they didnt learn from their earlier lessons of being overly concentrated.
You pay him to select that one company.
If you can select one company every few years that consistently outperforms - than you’re right - don’t pay a fund manager
Bruce is basically in retirement, has been for years. Hence he is OK with a not really caring about the portfolio.
Enlightening thanks
Thanks!
Awesome
Thanks Consuelo
From the looks of the fairholme portfolio freddie mae now only consist of 0.65% of assets so even if he gets par value on the preferred it'll only generate 6.5% return on his portfolio.
Good interview with Bruce had not seen him do an interview in a while I will never forget that Fannie Mae I lost money on the trade
Sears Holdings?
That's what I said!
BB was overruled by Mr. Lampert, who thought it could be resurrected as a retailer. Bruce saw it as a RE play.
So difficult for contrarians to know when to sell. That and portfolio concentration are toxic.
Wow great - was wondering where he was.
If you look at how FAIRX has done over the past 23 years or so, especially if you account for the expense ratio, you would have done better just sticking your money in 30 yr treasuries or 10 yr treasuries and rolling them over ever year or so.
right, he was too stubborn for few years, that cost him big time.. Bill Ackman was almost on the same route, but pivoted and it wasn't disaster like Bruce, but good to see him back doing interviews.
What about his investment in Sears Holdings for a decade where he lost 99% value ?
So why isn't Fannie & Ginnie a Buy now, even if they are on the pink sheets?
But isnt EPD a highly regulated company? Seems like a pipeline company would be at risk
Understand your investment and explain it to a 10 year on how it makes money.
I'll keep building my GNL dividend position and it will never be 80% of my portfolio.
😁
I was able to get out of this years ago with minimal losses. I am sure many not so lucky. He has been a disaster for many many many years now. He should have known better than to think the FED govt was going to hand him a pot of gold....and Sears was another epic disaster.
“Twice the performance of the S&P 500 since 2000” ~ (18:32)
@@rokyericksonroks lol and WAY under for well over a decade
Seems like Bruce might be open to embracing BTC given he's still pissed at the government.
good to see you Bruce..... SEARSSSS. Holdings... you lost me $30k lol