| Bruce Berkowitz|
Fairholme Capital Management
Founder and Portfolio Manager
magazine has published a profile
of Fairholme Capital Management's Bruce Berkowitz
. The article by Scott Cendrowski, who accompanied the investing star on a pre-dawn brisk walking exercise in Coral Gables, Florida, addresses, among others, Berkowitz' fascination with AIG and why Berkowitz doesn't see himself becoming a hedge fund manager.
The article also mentions Berkowitz's plans to launch his third mutual fund early next year.
Here are some quotes from the profile:
On concerns raised by some investors about his ability to maintain his successful streak:
"Right now, we're at an interesting junction point where people can't decide whether we're about to blow up."
"All of my most intelligent friends in the insurance world think I'm an idiot. These are CEOs of insurance companies. But it's just right there."
"The good thing about AIG is that it's just so complex. For a mere mortal with an average intelligence, it takes a long time to try to put all the pieces together. It's all there to be put together, it's just that you need to have no social life and not too many investments."
In the interview, Berkowitz also tells Cendrowski why he won't manage hedge funds. Berkowitz isn't keen on dealing with high-maintenance hedge fund investors and doesn't deem himself the fast-money type.
Armie Margaret Lee
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