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Thursday, June 09, 2011

Berkowitz Talks to the Crowd

Reported by Armie Margaret Lee

Berkowitz on Bloomberg TV after his keynote appearance.
It's been quite a week for Bruce Berkowitz. The star manager turned 53 on Monday, celebrated his 32nd wedding anniversary yesterday, and today made his first keynote appearance at the Morningstar conference.

Berkowitz, who was battling laryngitis, sat down for a one-on-one with Don Phillips, Morningstar's president of fund research.

Berkowitz' keynote appearance comes as the Fairholme Fund [see profile] is having what Phillips described as "not-so-terrific performance."

Berkowitz said the fund is currently undergoing a "painful period."

Still, the session was not without its light moments. One of them came when Berkowitz was asked by Phillips to provide a background of St. Joe Company to the audience.

"It's very simple," Berkowitz told conference attendees. "I grew up very poor in a one bedroom, I always wanted a backyard." 

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