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Over the last 70 years, value stocks clocked a 13.4% average annual return, vs. 10.2% for growth stocks, according to Ibbotson Associates.

A Flurry of Appearances for Bruce Berkowitz

By admin - Posted on July 6th, 2008
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Since the inception of the Fairholme Fund (FAIRX), right at the end of 1999, the fund has returned a cumulative 240%, through June 30, 2008.  On an annualized basis,  those are returns of 15.5% per year. The principal manager of the Fairholme Fund is Bruce Berkowitz. 

Berkowitz likes to talk about how Fairholme tries to turn every business into the “corner grocery store.”  I find it a simple, and useful, mental exercise to go through when analyzing the free cash flow of my companies.

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