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 Press Release: Institutional Investor Names Eight Private Equity Firms to First Annual Alpha Edge Buy List II Press Room Survey: Most Allocators Don’t Understand the Risks in Their Own Portfolios James Comtois What Drives the U.S.-Brazil Soybean Price Spread? Sponsored by CME Group