Bruce Berkowitz on banks, Fannie Mae and Trump


Bruce Berkowitz, the founder and chief investment officer of Fairholme Capital, sat down with CNBC's Kelly Evans for an in-depth Value Spark interview on how to trade financials, why he supports Donald Trump for president and his favorite stock ideas.

On financials: "The financial companies, insurers, banks should do very well in a rising rate environment as the rates go up there'll be a lag between what they pay for deposits and what they charge...should allow then to get back to more normal [profit] margins."

On his investment in St. Joe: "St. Joe's a very exciting situation now...we have a new management team...bringing in new builders."

On Trump: "I'm looking at the people that will be doing the major work for the candidates...when I make that comparison between who's gonna be working on this side and who's gonna be working on that side for the president, right now I'm picking the people that Donald Trump is picking."

Clips of the 30-minute interview aired on CNBC's Closing Bell, but to see it in its entirety, you must be a CNBC PRO subscriber.

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