Salient to Investors:

Bruce Berkowitz at Fairholme Fund bets on the recovery of stocks that fall out of favor, especially recovering icons that trade at half of intrinsic value for reasons that have nothing to do with their prospects. Berkowitz prefers to focus on his best ideas rather than spread them out.

Morningstar named Berkowitz as the US domestic stock-fund manager of the decade in 2010, who claims his fund returned an annualized 9.6 percent since inception at the end of 1999 through 2011 versus a gain of less than 1 percent a year for the S&P 500.

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