August 2013
Beginner
256 pages
6h 43m
English
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Chapter 3
Bruce Berkowitz
Virtually no member of the Forbes 400 list of wealthiest Americans accumulated significant wealth by being widely diversified.
—Bruce Berkowitz
Bruce R. Berkowitz is founder and managing member of money management firm Fairholme Capital Management LLC, established in 1997. Its flagship product, the Fairholme Fund (FAIRX), was floated on December 29, 1999. More recently, two other smaller funds were launched: the Fairholme Focused Income Fund (FOCIX) on December 29, 2009 and the Fairholme Allocation Fund (FAAFX), which followed exactly one year later. FAIRX consistently outperformed the S&P 500 index by very wide margins from 2000 to 2009. This performance was brought into the limelight when Morningstar1 honored Berkowitz with the Domestic-Stock Fund Manager of the Decade and the Domestic-Stock Fund Manager of the Year awards in 2010.
Berkowitz, the first in his family to attend college, graduated with a bachelor’s degree in economics from University of Massachusetts, Amherst, in 1980. He started his career as a data analyst at Strategic Planning Institute in Cambridge, Massachusetts, and he was soon transferred to Manchester, England. In 1983, he joined Merrill Lynch, London, and, by 1989, was the financial consultant and portfolio manager for Shearson Lehman Brothers in the United States. Concentrated portfolios were his trademark, so much so that, in 1994, he held just two stocks: Berkshire Hathaway and Fireman’s Fund Insurance Company. Berkowitz went ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.