The Reason Burce Berkowitz Bought St. Joe's

Bruce Berkowitz is at the Morningstar Investment Conference and he is talking about the reason he bought St. Joe's

. According to

who is at the conference, Berkowitz bought St. Joes "because he grew up in a one-bedroom apt and he wanted a backyard." Shares of St. Joe's are down 17 cents to $19.17, a loss of 0.88% on the session. Berkowitz runs Fairholme Capital, a Florida-based mutual fund.