He offers dreadful investing advice: "Put everything you own into the company you love! "
Diversified investing works much better, and is much safer. That's one of the many reasons index funds perform so well.
As for buying "distressed businesses," that's been terrible advice for those who like retailing stocks where turnarounds have been few. And averaging down is a recipe for disaster. Distressed retail stocks have no floor: Example: Radio Shack (and 50 others like it).
My guess is Sears will eventually go to zero but it may take quite some time.
Yikes: "Berkowitz Liquidates Fund That Owned Sears Holdings Shares"
"Investor Bruce Berkowitz is shutting his hedge fund and distributing its holdings to investors, including a stake in Sears Holdings Corp."
"The investor’s $2.1 billion Fairholme Fund,... has lost 6.6 percent year-to-date. It has lagged 99 percent of rivals over five years, according to data compiled by Bloomberg."
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