Risk

My dad recently gave me a copy of "Against the Gods: The Remarkable Story of Risk", by Peter L. Bernstein. As I was reading this on a bumpy plane flight to LA, I was reminded of my company's blog on Risk. Reading through a some prior posts led me to this article on Risk Management by Joe Nocera, published in the New York Times Magazine.

The article begins with the following quote:

‘The story that I have to tell is marked all the way through by a persistent tension between those who assert that the best decisions are based on quantification and numbers, determined by the patterns of the past, and those who base their decisions on more subjective degrees of belief about the uncertain future. This is a controversy that has never been resolved.’

— FROM THE INTRODUCTION TO ‘‘AGAINST THE GODS: THE REMARKABLE STORY OF RISK,’’ BY PETER L. BERNSTEIN

I found this amusing, and the topic interesting.