Berkowitz Says ‘To Survive Is to Win’ in Bet That BofA Rebounds

Bruce Berkowitz, who presided over losses last year at his Fairholme Fund as holdings in Bank of America Corp. plunged, said financial firms that endured the credit crisis in 2008 and 2009 will prosper.

“Investors are going to do well with all of the survivors,” Berkowitz said in an interview airing today on Bloomberg Television. “If you go back to the late ‘80s, the early ‘90s, the last time we went through this extreme cycle, to survive is to win. And you’re looking at the survivors today.”