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 Overseas Stocks Drive Double-Digit Returns for State Plans Like Louisiana and New York James Comtois Michael Green, the ‘Cassandra of Passive Investing’ Puts His Thesis to the Test Michelle Celarier Short-Dated Options Draw Investors as Event Volatility Surges Sponsored by CME Group