Famed mutual fund manager Bruce Berkowitz, founder of the Fairholme Capital Management, has seen his share of success and failures.
The mutual fund manager was named the U.S. stock manager of the decade by Morningstar in 2010, but saw huge losses in 2011 due to his big bet on financials.
However, there's no denying that Berkowitz was once one of the most successful managers in his field. From 2000 to 2010, the fund had an annualized return of 11.6% compared to an average yearly return of 0.7% for the S&P. Known for his contrarian investment style. And seeing as he's only about two years into his big bet on financials, there's a chance that in the long run the investor may still see success.