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 European Real Estate Credit Firm Zenzic Expands With $100m Commitment from Stable Asset Management James Comtois PivotalPath: Technology Leads Returns — and Allocator Demand The Editorial Team Why Today’s Heightened Dispersion Suits a Systematic Approach Sponsored by AllianceBernstein