Bruce Berkowitz
Bruce R. Berkowitz founded investment adviser Fairholme Capital Management, L.L.C, where he serves as managing member and portfolio manager. He established the firm in 1999, naming it after a street in London where he lived throughout most of the 1980s.
Inspired by Benjamin Graham’s The Intelligent Investor, he tends to direct investments on a small number of cheaply priced companies with singular management and deeply undervalued stocks. In all, he prefers to manage diversified portfolios.
Bruce Berkowitz graduated cum laude from the University of Massachusetts at Amherst with a Bachelor of Arts degree in economics. He served as management consultant and senior portfolio manager for Lehman Brothers early in his career. Just prior to founding Fairholme, Bruce Berkowitz worked in the investment firm Smith Barney, Inc as part of its managing directors from 1993 through 1997. Directly after his stint with Smith Barney, he founded today’s investment advising firm.
Based in Miami, Fairholme Capital Management is affiliated with the mutual fund of the same name. Bruce Berkowitz is currently president and director of Fairholme Funds, Inc, also known as FAIRX. To date, Fairholme Capital Management has come to manage a portfolio worth $9 billion, of which FAIRX constitutes a sizable portion.
Besides Fairholme, Bruce Berkowitz is engrossed with New Hampshire’s White Mountains Insurance Group, Ltd and Texas’ AmeriCredit Corp as director.