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 Seed Funding Isn’t Small Anymore: AI Start-Ups Push Rounds to Historic Highs Stephen Taub Biopharma Funds Deliver Market-Beating Returns as Valuations Snap Back Stephen Taub How ETFs Can Ease the Complexity of Duration Management Sponsored by Northern Trust Asset Management