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 A BDC Watchlist Finds $5.7 Billion in Portfolio Loans ‘At-Risk’ Michelle Celarier The Pension Fixer Who Finally Got to Build His Own Portfolio James Comtois Infrastructure Is No Longer Optional: At the Center of Geopolitics, Technology, and Economic Regime Change Sponsored by KKR