Fairholme Capital Sells Most of MBIA with an 80% Profit

Bruce Berkowitz cashed in his profits from MBIA Inc. (NYSE:MBI), a new amended 13G filing shows. His firm, Fairholme Capital Management reduced holdings in the the insurer to 1.2 percent , or 2,250,100 shares of the company, a massive cut from previous ownership in 31,425,820 shares which made up a 16.3 percent stake. Berkowitz's Fairholme Capital was the second largest shareholder of MBIA after Warburg Pincus LLC which owns 474 million shares.


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