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Harvard Business Review: on unquantifiable risks

(Last Updated On: May 29, 2012)

Harvard Business  Review: on unquantifiable risks

Quote: Routine risks like worker safety and even some day-to-day trading hazards can thus be managed successfully with a mechanistic, scientific approach. But the kind of big-picture bets that JP Morgan’s chief investment office made could never be tested, or managed, in that way.

Managing Risks Means Managing Arguments – Justin Fox – Harvard Business Review blogs.hbr.org

So it was Lyme disease that did it! The tick-borne illness kept JPMorgan Chase’s Ina Drew out of the office for extended periods in 2010 and 2011. And it was during Drew’s absences, according to a richly detailed account in The…

 

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These “preventable surprises” (a more action oriented phrase than black swan) are, to my mind, the outcome of 6 major drivers creating a toxic mix. These risks can be evaluated and its possible to put figures to this. But the key gap today is a willingness to manage them.

http://utpjournals.metapress.com/content/G6500722K0L9731W

 

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it’s a good point: some unknowns can be evaluated and quantified, but what do we do with the residual uncertainty, those factors that can’t – yet – be quantified?

 

NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!
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