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 Dillon Trust Sees Opportunity in Water Despite Political Risks James Comtois After Buying Out the State of Michigan Retirement Systems, Domain Expands Multi-Family Real Estate Firm James Comtois Podcast- Back to the Future of Direct Lending: The Alpha Edge in the Traditional Middle Market Sponsored by Fidelity Investments