The Misleading Notion Downside Risk

The Misleading Notion Downside Risk

Risk has two components: exposure uncertainty For there to be risk, both must be present. If you swim in shark infested waters, you are uncertain whether you will be attacked. You are exposed because you would suffer and possibly die if attacked. Being both uncertain...
What’s Your Risk Appetite?

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. That afternoon, you head over to the Apple store to buy the latest iPhone. A sales clerk at the front...
A Revelation

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 occurrences, as if the gods on Olympus toss dice to determine a company’s fate. No. There are causes. And these are usually...
Fooled By Black Swans

Fooled By Black Swans

Imagine you are presenting to the board about risk management. The presentation is going well, and you are about to finish up when a board member stirs. He hasn’t said a word the entire meeting, so this is his chance to look smart. He asks “What are you...
Test Your Risk Intuition

Test Your Risk Intuition

I am dusting off a classic test for risk intuition. If you remember the test from years past, it will be nice to reminisce. If not, take the test now to assess your intuition and look at risk in a new way.

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Defining Risk

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