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 Investors Pile Into TIPS ETFs While Avoiding Riskier Credit Assets John Crabb Premium RA Capital Preps New Biotech SPAC — With an Eye on China’s Risks Stephen Taub II Communities on Global Markets Sponsored by CME Group