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 What Past Sector Concentrations Tell Us About Today's Tech-Heavy S&P 500 Sponsored by CME Group