Fund manager puts his faith in US financials

 
David Hellier
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AS investors across the world took fright from financial stocks, Bruce Berkowitz took a large step in the other direction.

His Fairholme Capital Management group recently placed a $5bn bet on the resurgence of Wall Street in a strategy that has seen him buy stakes in Citigroup, Goldman Sachs, Morgan Stanley and Bank of America.

Named stock fund manager of the year 2009 by Morningstar, Berkovitz works in Florida where he is accompanied in the office by Jazz, his white poodle.