Bruce Berkowitz Fairholme

Bruce Berkowitz Fairholme: Sears, a complex sum-of-parts story

Bruce Berkowitz Fairholme Capital Management, L.L.C. annual report for the year ended December 31, 2014.
Also see Bruce Berkowitz 2014 Letter To Investors: Fannie, Freddie, BAC, AIG
“(E)ven the intelligent investor is likely to need considerable willpower to keep from following the crowd.” - Benjamin Graham

To the Shareholders and Directors of The Fairholme Allocation Fund:

The Fairholme Allocation Fund (the “Fund” or “FAAFX”) decreased 9.03% versus an increase of 5.97 . . .


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