Although Berkowitz hit a rough spot over the recent past, he appears to be on the rebound in 2012 and, over the long term, has produced one of the best track records in the industry, thereby earning the prestigious title of "Manager of the Decade" from Morningstar.
As you'll see in the video, Berkowitz knows the inside and outside of the companies he invests in and sticks with his convictions over the long term. He, like Warren Buffet and a select few others, is the epitome of a value investor.
I caught the end of the interview as I was channel flipping but then came across it on The Biz of Life site - thanks "Grouch."
In the approach to investing I use, I would limit exposure to 10% of an active fund like this. The probability that Berkowitz will beat the market by a goodly margin over the next 10 years or so is very high, but there is that risk that he will underperform. I would point out that, in participating heavily in the financial sector, he is facing head on an industry that has (IMHO) the best business model in the world but is overtaken on an ongoing basis by excessive greed and moral hazard, helped along by a Federal Reserve that is happy to oblige.
Expand to full screen and enjoy!