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Managing Extreme Financial Risk by Karamjeet Paul

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Dedicated to Walter B. Wriston

Under his leadership, many of us learned the meaning of risk.

Everything involves risk because we don’t know the future. It is at the center of how the financial industry drives its revenue model. Yet the word risk is used only to imply something not good.

“We read in our newspapers, and even in our business magazines, solemn words about ‘risky investments’ and ‘risky loans,’ from writers who do not seem to realize that these phrases are as redundant as talking about a one-story bungalow.”1

Walter B. Wriston

1Walter B. Wriston (1986): Risk and Other Four-Letter Words; Harper & Row, New York.

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