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Fooled By Black Swans
Imagine you are presenting to the board about risk management. The presentation is going well, and you are about to ...
What’s Your Risk Appetite?
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. […]
How To Start A New Risk Management Job
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 […]
How to Measure VaR for a Pegged Currency
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 […]
Snappy Comeback to Latest Criticism of VaR
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 […]
A Revelation
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 […]
Is Risk Management a Job or a Career?
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 […]
List Of Risk Management Failures
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 […]
What The 4 T’s Overlook
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 […]