Hints and tips:
...The plunge caused hefty paper losses for investment groups that are Fannie and Freddie investors, including Bruce Berkowitz’s Fairholme Funds and Bill Ackman’s Pershing Square....
...A Morningstar “Manager of the Decade” in 2010, Mr Berkowitz’s mutual funds have since trailed the market....
...“The plaintiffs’ grievance is really with Congress itself,” Judge Lamberth said....
...The judge’s logic left some legal observers scratching their heads....
...In 2000, while an intern at Cramer, Berkowitz & Company, a hedge fund, he recommended betting that the price of a biotech stock would fall....
...He has been cross-examined by their lawyers and, on Friday, in a motion — which was itself filed under seal, a marker of the extraordinary secrecy of the case — they asked the judge to make the deposition...
...The Federal Claims court is also where Bruce Berkowitz’s Fairholme Funds has sued the government over the profits of mortgage finance companies Fannie Mae and Freddie Mac, which received a $188bn bailout...
...A US judge ruled plaintiffs could seek evidence in the case filed by Bruce Berkowitz’s Fairholme Funds over the government’s pocketing of Fannie and Freddie profits....
...The lawsuit led by Bruce Berkowitz’s Fairholme Funds challenges a 2012 government move that requires Fannie and Freddie to send all their profits to the US Treasury, which plaintiffs say is illegal and hurts...
...On Wednesday, a US judge allowed Bruce Berkowitz’s Fairholme Funds to seek evidence in its lawsuit against the Treasury, which changed the Fannie and Freddie bailout terms in 2012 to require them to hand...
...” … In early 2004, Judge Korman decided to hold another public hearing....
...The Security Analysis framework is a way to judge those opportunities using facts and without needing to resort to conjecture. As such, it remains powerful. Mr Klarman agrees....
...“MySpace has to morph into some form of community-based portal,” says Steve Berkowitz, head of Microsoft’s online services business....
International Edition