Put mathematically, the complexity now grows non-linearly. This means, as banks get larger, the ability to risk-manage the assets grows much smaller and more uncertain, ultimately endangering the viability of the business.
Author: Edouard Chazal
Pope Benedict XVI and the Leadership Issue No One Wants to Talk About
Because we want to believe, on some very romantic level, that leaders are born. That they’re superhuman. That they’re cut from special cloth, that they’ve descended from Mount Olympus to help all of us. We want to believe that because it gets us excited about signing up to work with them. It kindles our hope that people with power have a sense of great responsibility and have answers that we don’t see.
The Importance Of Excel
This is why the JPMorgan VaR model is the rule, not the exception: manual data entry, manual copy-and-paste, and formula errors. This is another important reason why you should pause whenever you hear that banks’ quantitative experts are smarter than Einstein, or that sophisticated risk management technology can protect banks from blowing up. At the end of the day, it’s all software. While all software breaks occasionally, Excel spreadsheets break all the time. But they don’t tell you when they break: they just give you the wrong number.
How Uptown Money Kills Downtown Art
But it wasn’t really until serious business journalists took note and came running to document the next hot market for High Net Worth Individuals that the art world took stock of its new situation. And what became clear to the more experimental, contrarian critical community was that what passes for fusion among uptown’s financial giants is uranium poisoning for everybody else.
Why Apple is Valued Like an Oil Company
There’s no real conclusion here except that I don’t think investors really get technology. They don’t understand truly good and new things and how powerful they are. They think innovation is a word on a mug and a thing discussed in conferences at the Marriott. This is the bizarre thing about Apple, the only people that really get it are it’s customers.
Abnormal Capitalist 