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Rating:Is Bruce Berkowitz Really a Star? Not Rated 1.0 Email Routing List Email & Route  Print Print
Tuesday, November 02, 2010

Is Bruce Berkowitz Really a Star?

News summary by MFWire's editors

Who or what is behind Bruce Berkowitz's returns? Fundsters interested in the Fairholme Fund [see profile] may want to check out today's Wall Street Journal.

Tom Lauricella delves into the returns of the famed stock picker and comes up with some very interesting points that Fairholme's marketers may not want to stress to investors.

According to Lauricella, Fairholme's cash and bond holdings over the past five years has helped the fund average some nine percent over the past five years, compared with average annual gains of some two percent for both the Standard & Poor's 500-stock index -- Fairholme's benchmark -- and the fund's large-blend Morningstar category.

Also, in the past Berkowitz has reportedly invested some 20 percent of his fund in Berkshire Hathaway Inc., piggybacking on Buffett's own stock picking prowess.

Lauricella added that his review of the fund's top holdings since 2005 "suggests a fair amount of selling below initial purchase prices" and concludes that it's not clear how much of the fund's success is due to Berkowitz's stock-picking skill.

Fundsters interested in the Fairholme fund may want to check out the rest of the article. 

Edited by: Hung Tran


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