JOE - Bruce Berkowitz From 'The Best Manager Of The 2000s' To Underperforming In Recent Years: The Bets Of An Unconventional Fund Manager
Bruce Berkowitz founded Fairholme Capital Management at the end of the last century, a firm from which he manages several investment funds. The Fairholme Fund (FAIRX) has the longest track-record and is undoubtedly his flagship.
It is a non-hedge fund that invests in both stocks and bonds and, given its status as a 'non-diversified fund', does not have to meet normal diversification requirements. This is clearly stated by the fund's disclaimer, which "does not seek to diversify its investments". Thus, its main position can perfectly reach 30% of the portfolio