The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Jaffe Worries About the Berkowitz-St. Joe Fight Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, March 14, 2011

Jaffe Worries About the Berkowitz-St. Joe Fight

News summary by MFWire's editors

What happens when mutual fund PMs take director or executive spots at portfolio companies? Fundsters who have been following the recent fight between Fairholme [see profile] star Bruce Berkowitz on the one side side and one of his portfolio companies, St. Joe, on the other side may want to take a look at Chuck Jaffe's column on the subject. The MarketWatch columnist worries that such PM involvement breeds conflicts of interest.

"Just think about how a fund manager could invest in a stock that he controls or is on the board of, and could make buy or sell decisions that appear to be best for the corporation but not necessarily in the best interest of the fund shareholders," Jaffe writes. "It's nearly impossible to properly serve two masters."

Jaffe seems less worried about Berkowitz's move in this case than about the possibility that Berkowitz or others might be tempted to try this again elsewhere. 

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use