This year has not been a good one so far for Bruce Berkowitz
of Fairholme Capital Management [see profile]
, Ken Heebner
of CGM [see profile]
, and Bill Miller
of Legg Mason [see profile]
. Citing Morningstar data, Bloomberg notes
that the funds helmed by the popular stock-pickers are the three worst performers so far this year among the funds' peers in the large diversified U.S. mutual fund space.
Through June 9, the funds lost 11 percent to 12 percent. Meanwhile, the Standard & Poor's 500 index advanced 3.4 percent during the period.
In his keynote appearance at the Morningstar conference last week, Berkowitz told
the audience that Fairholme Fund is undergoing a "painful period."
Armie Margaret Lee
Stay ahead of the news ... Sign up for our email alerts now