BargainValueHunter Posted October 29, 2010 Share Posted October 29, 2010 http://tinyurl.com/36fbrof The recent price performance of our Companies does not reflect their business performance. Stock price declines are “mark-to-market” declines, not permanent losses. It is critical for you to understand that we believe the intrinsic value of our companies has increased, not decreased, over the last year. The longer it takes value to be recognized, the larger our future profits will be. Furthermore, if Mr. Market continues to place low prices on our Companies, we will buy more. This is how we have made lots of money in the past. :) Link to comment Share on other sites More sharing options...
CFA Omaha Posted October 29, 2010 Share Posted October 29, 2010 That is awesome. Do you have any other BB letters? Link to comment Share on other sites More sharing options...
Myth465 Posted October 29, 2010 Share Posted October 29, 2010 Thanks for the letter. Link to comment Share on other sites More sharing options...
stahleyp Posted October 29, 2010 Share Posted October 29, 2010 Great post! Berkowitz is also hoping up a new fund. http://news.morningstar.com/articlenet/article.aspx?id=357615 Link to comment Share on other sites More sharing options...
coc Posted October 29, 2010 Share Posted October 29, 2010 Just wanted to add my thanks to BVH. If you have access to any of his other letters to Fairholme clients, I'll second a request for those as well. Thanks again! Link to comment Share on other sites More sharing options...
turar Posted October 29, 2010 Share Posted October 29, 2010 They're all publicly available at http://www.fairholmefunds.com/ E.g: http://www.fairholmefunds.com/ann-00.pdf http://www.fairholmefunds.com/ann-01.pdf etc... Link to comment Share on other sites More sharing options...
coc Posted October 29, 2010 Share Posted October 29, 2010 They're all publicly available at http://www.fairholmefunds.com/ E.g: http://www.fairholmefunds.com/ann-00.pdf http://www.fairholmefunds.com/ann-01.pdf etc... I believe those are for the Fairholme Fund, his mutual fund. But the letter Bargainhunter linked to was to the clients of Fairholme Capital management - his private clients. Link to comment Share on other sites More sharing options...
txlaw Posted October 29, 2010 Share Posted October 29, 2010 Awesome, thanks for posting! I'd also love to see some more of his letters to his clients. Link to comment Share on other sites More sharing options...
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