Bruce Berkowitz isn’t the kind of manager whose moves make headlines, but they’ve paid off remarkably well for his investors.

Berkowitz, who has headed Fairholme Capital Management since the company was founded in 1999, entered the past decade buying stocks, like Jefferies Group, while the rest of the world was reveling in dot-com wealth. But after ten years, and only a few million dollar investment, Fairholme has grown to an $11.2 billion fund.

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