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Berkowitz's Fairholme Sold Almost All Its AIG Shares in Quarter

Bruce Berkowitz, who bet heavily on financial stocks after they collapsed in the last recession, sold almost all of his remaining stake in American International Group Inc. and more than 60 percent of his holdings in Bank of America Corp. in the third quarter.

Berkowitz’s investment firm, Fairholme Capital Management LP, sold 18.1 million AIG shares, leaving him...


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