Berkowitz’s Returns Rise From Worst to First as AIG, BofA Rally
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Bruce Berkowitz’s Fairholme Fund is poised to post its best year in a decade, led by the rebound of financial firms that fueled what he called a “horrible” 2011.
The fund had advanced 30 percent this year through last week. Holdings in American International Group Inc. contributed about half of that gain, while Charlotte, North Carolina-based Bank of America Corp. accounted for approximately 20 percent of the climb, according to data compiled by Bloomberg.