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 For Members Only How Third Point Generated Strong Gains With Less Market Risk Stephen Taub European Real Estate Credit Firm Zenzic Expands With $100m Commitment from Stable Asset Management James Comtois Capital Markets, Reframed: A Corporate Defined Benefit Perspective Sponsored by Fidelity Investments