Bruce Berkowitz on Managing Risk and Reward Clients come first, and Fairholme Capital's Berkowitz is the largest client in everything his firm does. The result has been great risk-adjusted returns for both him and his clients. Related Articles Even the Largest Institutions ‘Should All Be Doing’ Some OCIO, Pension Trustee Says James Comtois Stan Druckenmiller Overhauls His Family Office’s U.S. Stock Portfolio Stephen Taub The Historical Benefits of US Private Real Estate Sponsored by Invesco