At this year's Morningstar advisor conference, Bruce Berkowitz, while talking about Warren Buffet and Charlie Munger, joked that everyone needs their Charlie. The joke of course was about the relationship between Berkowitz and Charlie Fernandez.

Now that Berkowitz has lost his Charlie, people are wondering why and even hometown paper the Sun Sentinel is starting to wonder why. This might turn out to be an awkward holiday season for Berkowitz and Fernandez, former president of Fairholme Capital Management [see profile].

It turns out that Fernandez, who "resigned" from Fairholme earlier this week, has a close enough relationship with Berkowitz that the two go back for more than a decade and are currently neighbors in Miami, according to the Sun Sentinel.

The pair reportedly felt their waterfront location — far from Wall Street — helped their investment decisions. The company did not offer any further explanation on why Fernandez departed and it isn't known if the two will be sharing well wishes this holiday season. 

Edited by: Hung Tran


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