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Croc Hunter and the notion of risk in business

As a result 343 courageous firemen were lost in the tragedy that ensued.In my own work as a money manager, I have to gauge risk every...

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Posted on Thursday, May 24, 2012 at 12:15 AM

I have to gauge risk every moment of the day

Irwin probably had no idea how a stingray would react to an invasion of space.Let’s look at another situation. All of us are use to seeing a story in the newspapers several times per year that goes like this. “Mother leaves children alone, 5 perish in fire”.Mukluks Half Wrap Boots The story never ever talks about how many times in the past the mother in question left the children alone. There is always the implication that this is the first time this has happened. This is what you need to know about risk. Very rarely, does somebody who is involved with risk, GET CALLED ON IT THE FIRST TIME.Usually you get a couple of free passes. I am sure that each of the women in these stories who have left their children alone and subsequently perished in a fire, have left them alone before. They have probably left the kids alone more times than we can count. At some point, you do get called on it. The game of luck runs out...

 

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