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The Essentials of Risk Management, Second Edition, 2nd Edition by Robert Mark, Dan Galai, Michel Crouhy

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Epilogue

TRENDS IN RISK MANAGEMENT

In the first edition of The Essentials of Risk Management, written in 2005, we laid out 10 possible trends in risk management, ranging from “countrywide risk management” to “risk transparency.” Here we offer a short discussion about the more interesting successes and failures of this piece of crystal ball gazing from the perspective of August 2013 and then, undeterred, offer five new or updated trends.

The Rights and Wrongs of Our Earlier Projections

We were nothing if not ambitious for risk management back in 2005. Our first item1 discussed the need for countries to establish a unit to manage their own risk.2 For example, countries with concentrations in industries might swap these exposures, or countries might ...

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