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Tuesday, November 15, 2011

Is Berkowitz Bouncing Back?

News summary by MFWire's editors

The "in-favor-then-out-of-favor" cycle is moving ever faster. Or so it would seem with Bruce Berkowitz, whose star seems to be shining brightly in all the wrong ways lately. While some reports have suggested it is time to abandon the fund, Seeking Alpha is leaning the other way.

Contributor Davy Bul posits that perhaps investors should give Berkowitz and his flagship Fairholme Fund [see profile] a second chance, despite losing 26 percent year-to-date even as the S&P 500 is level.

"Studies have shown that mutual fund investors often mis-time their investments, opting to pile into a highly-rated fund when it is soaring and abandoning funds when they inevitably come back down," Seeking Alpha wrote.

"Perhaps investors should consider this as it pertains to Fairholme. After all, Berkowitz was named Morningstar's fund manager of the decade and he's given some indication of returning to a more traditional value investing strategy and abandoning strategies which veered toward activist investing Berkowitz may finally be able to focus on righting the Fairholme ship." 

Edited by: Neil Anderson, Managing Editor

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