Fairholme Fund Manager Berkowitz Bets on Sears

Bruce Berkowitz, who was named mutual-fund manager of the decade in 2010, has seen his Fairholme Fund lose 89% of its assets from its 2011 peak due to poor performance—but he hopes to turn things around with a major bet on the battered Sears Holdings Corp. This according to an article in The Wall Street Journal. The Fairholme Fund has lost 12.9% so far this year compared to the 9% gain in the S&P 500,… Read More

Liquidity Concerns Increasing for Fairholme Fund

The Fairholme Fund, which was launched in 1999 by Bruce Berkowitz, has seen investors pull out more than $16 billion over the past six years due to poor performance, an exodus that is raising liquidity concerns. This according to a recent article in The Wall Street Journal. Morningstar estimates show the large-cap value fund has “shed assets every month since March 2011” and is now a “shadow of its former self,” according to the article–… Read More