What Is The Best Fund Manager Of The Decade Buying Now?

Bruce Berkowitz was named the best fund manager of the decade. The Pragmatic Capitalist had a very good post about his investment techniques plus a video interview:

"Bruce Berkowitz, head of the $11.2 billion Fairholme Fund, talks with Bloomberg’s Margaret Brennan about his investment strategy. Berkowitz was this month named fund manager of the decade in the U.S. stock-fund category by Chicago-based research firm Morningstar Inc. The Fairholme Fund returned an average of 13 percent over the past 10 years, while the Standard & Poor’s 500 Index fell an annual 1 percent." in The Pragmatic Capitalist

Bruce Berkowitz likes healthcare insurers like Humana (HUM), financial services stocks and some REIT`s like St. Joe (JOE). He said, "we are beginning to come out of a very stressful period and stress creates cheap prices. We like healthcare, real estate, areas that have been hit hard either because of the recession, because of the Administration, so as I said we like Humana (HUM). And there is tremendous stress in financial services and they are beginning to recover. So financial services look interesting, the real estate companies such as St. Joe, smaller REIT`s (...)"

But then Berkowitz added, "there is still reasonably good values out there". In my experience when long-only fund managers say this, its time to run away from stocks or at least to wait for a very significant correction yo buy.