(GuruFocus, January 7, 2010) Hate to do this to our users, but Bruce Berkowitz is all over the media. I Found an excellent article that worth your time on Berkowitz on www.iberkshires.com by Bill Schmick entitled The Independent Investor: Bruce Berkowitz, Domestic Fund Manager of the Year.
Key points:
1. Fairholme Fund lead in the ranking of Lipper Analytical for mutual funds in 3- and 5- year period. The fund generated about 13% annualized gain sicne its inception.
2. Berkowitz and his staff invest along side with their shareholders.
3. They ignore the crowd.
4. They always keep about 15% cash in hand, changing according to the market condition.
5. They ignore market cap, sector or asset class. They focus on equity, but do not shun away to buy Senior secured or unsecured debt, preferred shares
6. “The Fairholme portfolio tends to hold 15 to 25 securities on average and his top five or six holdings often represent over half of the portfolio's value historically.”
7. “This year investors will also be offered an income version of the Fairholme Fund called the Fairholme Focused Income Fund (symbol FOCIX).”
8. Forecasts for 2010? "I don't have the slightest idea. My predictions plus $2 might get me a cup of coffee somewhere. At Fairholme, we tend not to predict but to take advantage of stresses as they develop. That takes patience." says Bruce Berkowitz
Read the complete article: The Independent Investor: Bruce Berkowitz, Domestic Fund Manager of the Year.
GuruFocus is invited to submit questions for an interview with Bruce Berkowitz. Through 9:00AM EST, Friday, January 8, 2010, you can submit your question by click here and submit your questions.
Also check out:
Key points:
1. Fairholme Fund lead in the ranking of Lipper Analytical for mutual funds in 3- and 5- year period. The fund generated about 13% annualized gain sicne its inception.
2. Berkowitz and his staff invest along side with their shareholders.
3. They ignore the crowd.
4. They always keep about 15% cash in hand, changing according to the market condition.
5. They ignore market cap, sector or asset class. They focus on equity, but do not shun away to buy Senior secured or unsecured debt, preferred shares
6. “The Fairholme portfolio tends to hold 15 to 25 securities on average and his top five or six holdings often represent over half of the portfolio's value historically.”
7. “This year investors will also be offered an income version of the Fairholme Fund called the Fairholme Focused Income Fund (symbol FOCIX).”
8. Forecasts for 2010? "I don't have the slightest idea. My predictions plus $2 might get me a cup of coffee somewhere. At Fairholme, we tend not to predict but to take advantage of stresses as they develop. That takes patience." says Bruce Berkowitz
Read the complete article: The Independent Investor: Bruce Berkowitz, Domestic Fund Manager of the Year.
GuruFocus is invited to submit questions for an interview with Bruce Berkowitz. Through 9:00AM EST, Friday, January 8, 2010, you can submit your question by click here and submit your questions.
Also check out:
