Has Bruce Berkowitz
found his Charlie
? Well, not exactly. Today, Fairholme Funds [see profile]
said that it has hired Fred Fraenkel
as chief research officer, effective October 1.
Fraenkel will be tasked with helping Berkowitz coordinate research efforts at the firm as well as damage control with the firm's shareholders. "As our Chief Research Officer, Fred's first task is to find ways to better communicate with clients as to why Fairholme's best is yet to come," stated Berkowitz. "Fred’s experience in explaining investments and managing research personnel makes me confident he will succeed.”
Previously, Fraenkel served as vice chairman of Beacon Trust Company, an asset management an advisory shop, where he ran the investment process and published investment strategy. Fraenkel also spent seven years at Lehman Brothers, Inc., where he was a director of global research.
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