Didier Saint Georges: The art of risk management

Asset managers and entrepreneurs have one thing in common - the odds are stacked against them. A simple look at the average returns of actively managed funds, or the failure rates of start-ups, reveals just how self-assured asset managers and entrepreneurs have to be. They take such bold steps because they believe the future, with all its uncertainty, contains not only perils and challenges, but also - and for those very reasons - lucrative opportunities, provided they can figure out how to navigate the associated risks. Knowing which risks to take is the most difficult thing about in...