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Tim Travis
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Tim Travis is a veteran deep value investor and money manager. Travis has extensive experience in traditional investments such as stocks and bonds, in addition to having a unique methodology of combining options and distressed investing with value investing to generate income, reduce risk, and... More
My company:
T&T Capital Management
My blog:
T&T Capital Management Blog
My book:
Learn to Treat Your Portfolio as a Business
  • Bruce Berkowitz- Return Of A Star Fund Manager (Fortune) 2 comments
    Nov 26, 2012 11:42 AM | about stocks: C, BAC, AGO, MBI, AIG, MS

    For those who have followed us for some time, you know that we are big fans of Bruce Berkowitz and his investment style. He is probably the guy we have the most in common with in terms of our stock selection process. Last year was a tough year for him, but while investors in his fund were leaving in droves, we believed and said they were making a bad decision. This year he has rewarded those that were patient with upper 30% returns. The best part is there is still a lot of upside in the large financials. At TTCM we have large positions in AIG, C, BAC, MS and we prefer AGO over MBIA. We also utilize put options to get in at cheaper prices than what would be available if we just bought the stock outright. This helped us in 2011 when financial stocks were extremely weak, and we've been able to ride the climb thus far this year. I still believe most of these stocks are at least 50% undervalued. Below is a link to the article.

    http://finance.fortune.cnn.com/2012/11/26/bruce-berkowitz-fairholme/

    Disclosure: I am long C, BAC, AGO, AIG, MS.

    Stocks: C, BAC, AGO, MBI, AIG, MS
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  • Joe Springer
    , contributor
    Comments (2303) | Send Message
     
    Tim Moody's is late with $AGO announcement, could be they are appealing downgrade, might be time to lock in recent run?
    26 Nov 2012, 12:05 PM Reply Like
  • Tim Travis
    , contributor
    Comments (535) | Send Message
     
    Author’s reply » That is very possible. I think it's still a buy either way for the long-term investor. Worst case they buy back stock aggressively and that honestly might not be the worst thing in the world. Thanks!
    26 Nov 2012, 12:22 PM Reply Like
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