McKinsey Quarterly presents Peter Bernstein [my apologies I erroneously placed Richard Bernstein earlier]
``The celebrated author of Against the Gods: The Remarkable Story of Risk explores the history of risk and how it works in real-world markets and in our lives.
``Risk doesn’t mean danger—it just means not knowing what the future holds. That insight resides at the core of risk management for companies, whether in managing the potential downside of an investment or putting a value on the option of waiting when making irreversible decisions. In this video Peter L. Bernstein also explains why in the real world the most sophisticated mathematical models can sometimes fail."
Peter Bernstein in this video deals with Risk, Risk Control and Management, Options and Option pricing, and mathematical models that can't input world dynamics.
"It's how you deal with it when it happens"
Update: Learned today June 10th, that risk guru Peter Bernstein has recently passed away at age 90 (Bloomberg). Sad to lose such an inspirational icon, he will surely be missed.
