Berkowitz Still Confident in Financials

Bruce Berkowitz remains high on financial stocks, and says his conviction about his financial holdings has only grown stronger. “I’ve been able to see their earnings for the past few quarters, the trends are getting better, the balance sheets are building, tangible book value is growing,” Berkowitz tells Bloomberg from the Morningstar Investment Conference. “The problems from 2007, 2008, still have a ways to burn through, but we’re more than, I would say more than halfway through the problem now.”