Replies to post #216988 on Fannie Mae-No Politics (FNMA)

[Always wondering]

That he doesn't care about long term capital gains taxes?

[myogenix]

It tells me that he still has 141 million invested. We all know Berkowitz hasn't sold his prefered shares. Also, just because you sold some shares doesn't mean you're going to sell them all. Maybe he sold so he could pay taxes?

[Mikey Mike]

He may have reduced it during the last peak but most likely bought back at the bottom during April to take some profits. The discovery is still in it's early for him to have substantial evidence to sell off and not repurchase. The defendant's threatening with a protective order shows that not much documents have been produced.

Look at the date:

Berkowitz’s Fairholme Capital Management LLC sold 6.8 million shares of Fannie Mae, bringing his holdings to 19.2 million shares with a market value of $74.7 million as of March 31, according to a regulatory filing today. He sold 2.2 million shares of Freddie Mac, cutting his stake to 17.2 million shares with a market value of $66.3 million.

http://mobile.bloomberg.com/news/2014-05-15/fairholme-s-berkowitz-reduces-his-holdings-of-fannie-and-freddie.html?cmpid=yhoo