The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Berkowitz Gains 'Guru' Status Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, December 31, 2009

Berkowitz Gains 'Guru' Status

News summary by MFWire's editors

Bruce Berkowitz will get to usher in 2010 having just been dubbed 2009's 'Investment Guru of the Year' by GuruFocus users, the website revealed on Thursday. The president of the Florida-based Fairholme Funds captured over 30 percent of the total votes cast by online users, beating out hedge fund managers John Paulson and David Tepper, who each got more than 20 percent of votes.

So what makes Berkowitz worthy of 'Guru' status? For starters, the Fairholme Fund -- which Berkowitz founded on December 29 1999 -- has gained 236 percent over the past ten years, a stark contrast to the S&P's loss of over 10 percent for the decade. Berkowitz has a pretty impressive track record too as the Fairholme Fund were down only two of the ten years he has managed the fund, losing 1.5 percent in 2002 and down roughly 30 percent in 2008.

After weathering last year's storm, the Fairholme Fund is up 41 percent for the year ended November 30 2009. According to GuruFocus, Berkowitz's success stems from his ability to concentrate assets among his best ideas, buy on one-time events, borrow ideas from other leading managers, invest with capable owner oriented managers, focus on free cash flow and hold cash when needed.

It seems Berkowitz's "Ignore the Crowd" mentality is a simple way of saying ignore the market's short-term volatility and reap long-term rewards when the market shifts its tune and opportunities abound. With this year's award, Berkowitz joins the likes of Prem Watsa, Ken Heebner, David Dreman, and of course Warren Buffett, who have been recipients of the title over the past four years. 

Edited by: Patricia Kelly

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use