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

Berkowitz, Morningstar's domestic-stock fund manager of the decade, has headed the now-$11.2 billion Fairholme Capital Management since its founding in 1999. Fairholme earned a 13.2% 10-year annualized total return through Dec. 31, according to Morningstar, soundly beating the Standard & Poor's 500 index.

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