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 and convexity, or ...
Conflict is a recurring problem for financial risk management. At your own firm, are risk managers dismissed as “risk police”? ...
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 […]