A Quote by Robert F. Engle
I agree with a lot of the points in Taleb's book, but I don't agree with many of his conclusions. It seems to me that he rightly points out that risk managers miss a lot of the risks, but the conclusion is that he draws, is that we should abandon risk management, whereas my conclusion is we should improve it.
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Before any American points a finger at President Putin and calls him nasty names, they should recognize that a lot of Americans agree with Putin on his stance against homosexual and transgender people.
Given the central role of effective, firmwide risk management in maintaining strong financial institutions, it is clear that supervisors must redouble their efforts to help organizations improve their risk-management practices...We are also considering the need for additional or revised supervisory guidance regarding various aspects of risk management, including further emphasis on the need for an enterprise-wide perspective when assessing risk.
Risk managers and investment bankers and actually, all kinds of investors took on more risk than they expected. So there was a failure of risk management. There was a failure to recognize how much risk there was in some of these securities that people bought.
Alignment of business strategy and risk appetite should minimize the firm's exposure to large and unexpected losses. In addition, the firm's risk management capabilities need to be commensurate with the risks it expects to take.
My father was very strong. I don't agree with a lot of the ways he brought me up. I don't agree with a lot of his values, but he did have a lot of integrity, and if he told us not to do something, he didn't do it either.
There is always the risk in advocating for democracy that the first people to wake up might not be your team, but that is a risk worth taking. I would rather have citizens I don't agree with organized and active than an oligarchy of people that I agree with.
To laugh is to risk appearing a fool. To weep is to risk appearing sentimental. To reach out to another is to risk involvement. To expose feelings is to risk exposing your true self. To place your ideas and dreams before a crowd is to risk their loss. To love is to risk not being loved in return. To hope is to risk pain. To try is to risk failure. But risks must be taken, because the greatest hazard in life is to risk nothing.
Our ultimate analysis of space leads us not to a "here" and a "there," but to an extension such as that which relates "here" and "there." To put the conclusion rather crudely-space is not a lot of points close together; it is a lot of distances interlocked.
I've come to the conclusion that the best way for me to grow is in a very self-forgiving way: to take a risk and, in response to how a record pans out, take a risk in the opposite charge.
For a lot of readers these days, a book is something you have to agree or disagree with. But you can't agree with a novel. For my generation, it was assumed that a book is a dramatic thing, that the eye of the book is not telling you what to think.
What Black Lives Matter is doing is a deliberate inversion of the proper processes of historical analysis. It is beginning with a conclusion. And it is adapting facts to that conclusion. You should begin with the facts and work forward to a conclusion.
A lot of camps and summer programs for kids seem to have discovered that among the most valuable things they offer is what they don't offer. No Wi-Fi. No grades. No hovering parents or risk managers or parents who parent like risk managers.
If we face recession, we should not lay off employees; the company should sacrifice a profit. It's management's risk and management's responsibility. Employees are not guilty; why should they suffer?
The risk of developing carcinoma of the lung increases steadily as the amount smoked increases. If the risk among non-smokers is taken as unity and the resulting ratios in the three age groups in which a large number of patients were interviewed (ages 45 to 74) are averaged, the relative risks become 6, 19, 26, 49, and 65 when the number of cigarettes smoked a day are 3, 10, 20, 35, and, say, 60-that is, the mid-points of each smoking group. In other words, on the admittedly speculative assumptions we have made, the risk seems to vary in approximately simple proportion with the amount smoked.
Just as a moral distinction is drawn between "those at risk" and "those posing a risk", health education routinely draws a distinction between the harm caused by external causes out of the individual's control and that caused by oneself. Lifestyle risk discourse overturns the notion that health hazards in postindustrial society are out of the individual's control. On the contrary, the dominant theme of lifestyle risk discourse is the responsibility of the individual to avoid health risks for the sake of his or her own health as well as the greater good of society.
I think risk is important. I don't care if it's a great financial risk or a physical risk. You only get out of something what you put into it and the fact that you are willing to risk something means that you are going to get a lot more out of it.
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