After 15 years at brand-name brokerage houses, Bruce Berkowitz saw starting his own money-management firm in 1997 as a badly needed change of pace. "Asset management at big Wall Street firms can be very blah," he says. "Too many meetings with 12 people, reaching the level of intelligence [that] groups that size usually reach."
Berkowitz's performance since starting Fairholme Capital has been anything but blah. He now manages $3.7 billion, and his flagship Fairholme Fund has returned 18.7% per year--versus a 0.4% annual loss for the S&P 500--since its launch in 1999.
Read the complete article at Forbes
Berkowitz's performance since starting Fairholme Capital has been anything but blah. He now manages $3.7 billion, and his flagship Fairholme Fund has returned 18.7% per year--versus a 0.4% annual loss for the S&P 500--since its launch in 1999.
Read the complete article at Forbes
