This weekend, the House of Representatives will cast votes that could transform the nature of health care in America for decades to come. The debate has been long and contentious and the political “sausage making” has been particularly ugly. Progressives believe that the current proposals do not go far enough while conservatives are concerned that more government involvement in health care will lead to spiraling costs followed by rationing decisions made by government bureaucrats. Is there any common ground that both sides can agree on? Read this article for more details.
In a conference call this afternoon, Bruce Berkowitz answered a number of shareholder questions regarding The Fairholme Fund, the state of the overall stock market, and prospects for health care reform. Mr. Berkowitz’s record at The Fairholme Fund since its inception on December 29, 1999 has been nothing short of extraordinary. Based on the fund’s semi-annual report dated June 30, 2009, annualized performance since inception has been a gain of over 12% annualized compared to a loss of over 3% annualized for the S&P 500. Read this post for a summary of the conference call.