Last week, some hedge fund manager made fleeting headlines when he announced he was bullish because “Animal spirits matter.” Are ...
Imagine you are presenting to the board about risk management. The presentation is going well, and you are about to ...
There is an old saying on trading floors: Watch the trader who makes consistent money. He is the one who ...
The power of value-at-risk lies in ints generality. Unlike market risk metrics such as the Greeks, duration or beta, which ...
Conflict is a recurring problem for financial risk management. At your own firm, are risk managers dismissed as “risk police”? ...
Don’t ask “how could this have been avoided?” That is the wrong question. By now, everyone has seen the graphic videos of United Airlines forcibly […]
If you are a risk manager, don’t ignore what happened at Sunday’s Oscars. You must respond. As details emerge about how the wrong envelope was […]
Salespeople are like “hired guns”. They play a unique role within firms. But when things go wrong, hired guns can become loose cannons. There are […]
Suppose you arrive at your dentist’s office for an appointment. Before escorting you to an examination room, the receptionist asks what your pain appetite is. […]
You finally did it! You landed that senior risk management position at a fabulous firm. The job search took a while, and the vetting was […]
On Friday, I wrote a lighthearted piece challenging criticisms of value-at-risk. The Swiss had abandoned their currency peg; people had lost money; and VaR was […]
Last week, the Swiss pulled their peg, and swissie soared. Part of the fallout—surprise, surprise!—is criticisms of value-at-risk. This time The Economist is leading the […]
I have written about it before, and I am sure I will write about it again. … how financial risks that devastate firms aren’t random […]
There are few life decisions as consequential as your choice of career. Get it wrong, and you’re in for a world of discontent. Perhaps you […]
Those who cannot remember the past are condemned to repeat it. Nowhere is George Santayana’s famous admonition more applicable than in the field of risk […]
If you have been active in risk management for a while, you have probably heard of the 4 T ‘s. These—at a very high level—are […]
You probably already know the basics: that high-frequency trading (HFT) is a style of trading that involves placing, transacting and/or rescinding numerous orders over compressed […]
Michael Lewis has a new book out. It may be more influential than even his 1989 runaway bestseller Liar’s Poker. Called Flash Boys: A Wall […]
It is the most sinister development in finance since robo-signing of foreclosure documents: corporations locking shareowners out of their own annual meetings. The pretext is […]