Fairholme Capital Management’s Bruce Berkowitz told Bloomberg TV’s Dominic Chu that he still really likes Bank of America even though the stock crushed his fund last year.
“In the banking, I feel most comfortable with Bank of America. I like what Brian Moynihan is doing. I like the trends. I like the honesty,” the mutual fund manager, who is known for his bullish bets on financials, told Bloomberg TV.
“We always told our shareholders ‘don’t judge us based on short-term performance.’ In bad times the same should be true.”
“It’s long-term. It’s a long race. We’re in it for many, many years. We want to do what’s right for our shareholders over a long-term period,” he added.
