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 The Returns Gap Shows Investors Can't Stop Chasing Performance James Comtois Why OCIO Firms Are Targeting Healthcare Portfolios James Comtois A New Cycle Emerges Sponsored by Heitman