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 ‘AI Supercycle Is Here to Stay’: Light Street Posts Strong January Returns as It Revamps Tech Strategy Stephen Taub Facing Anemic Returns, Allocators Struggle to Reach 8% Hurdle James Comtois Investing After the AI Honeymoon Sponsored by CFM