Seeking Alpha
  • Ghosts of Kariela
    Fairholme's funds will soon be closed ended. Watch for drops as withdraws hit before the close date. $AIG, $BAC, $SHLD, $JOE, $MBI $CIT $LUK
    1/30/13
    Reply (9)
    • Ghosts of Kariela: I'm going to pick up FOCIX, buying bonds individually is a PITA
      1/30/13
    • Ghosts of Kariela: I'll probably open positions in $MBI and increase stakes in $AIG, $SHLD and $BAC when withdrawals hit
      1/30/13
    • Ghosts of Kariela: Nevermind just checked expense ratios, I'll buy bonds individually
      1/30/13
    • DeepValueLover: Why would people WITHDRAW money? The fund is closing to NEW investors. CURRENT investors will see no change.
      1/30/13
    • Ghosts of Kariela: I was incorrect in stating that it will be a closed end fund. But I think there will be some withdrawals, il explain in a sec.
      1/31/13
    • Ghosts of Kariela: My logic is that with the market being at highs and retail getting a bit back in the market, we might be facing a correction.
      1/31/13
    • Ghosts of Kariela: In the event of a correction, some investors will close positions. The timing of this announcement suggests this might happen. He sold
      1/31/13
    • Ghosts of Kariela: his GGP off to increase cash. So he might see potential withdrawals in the future.
      1/31/13
    • Ran Moshe: They will not closed ended, just closed to new investors. Existing investors would still be able to withdraw or invest.
      2/20/13