Berkowitz's China Buys
After appearing on "The Strategy Session" on Wednesday, Bruce Berkowitz, founder and portfolio manager of Fairholme Capital Management, continued the discussion off-air with David Faber, on why 10 percent of his assets are comprised in China.
"There are huge bridges over the past decade that are being built, financial bridges, between the United States and China. Both companies have so much to offer each other. I see those bridges expanding, getting bigger in terms of dollars coming back to the United States," Berkowitz said.
"It's a unique time, it's a unique place, with just a fast growing middle class. We want to be part of it," he said.
"We've invested in two life insurance companies [AIA Group LTD and China Pacific Life], with the help of Michael Evans and his Asian team at Goldman Sachs and we hope to do more," Berkowitz added.
Check out the video to find out why Berkowitz thinks growth in China is unlimited.
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