As this decade comes to a close, legendary investor Bruce Berkowitz appears to be getting things right again. After making ill-timed bets on bank in 2011 and ill-advised bets on Edward Lambert and Sears in the years since, Fairholme is enjoying a resurgence. Much of the turnaround likely do to his speculation in Fannie and Freddie, which have tripled this year. (Story in WSJ today about regulators pressing to turn Fannie and Freddie private again.) Below are the YTD risk and performance numbers of his three funds: FAIRX, FOCIX, and FAAFX. Today’s AUM of $1.4B is perhaps 5% of its peak, when Mr. Berkowitz won Morningstar’s Fund Manager of the Decade in 2010.