Comment on 'Black swans' and 'perfect storms' become lame excuses for bad risk managementparentComments−jacques_chester13yWhat's your point? Customers will choose the mix of cost and risk that makes them comfortable.−jbert13yI guess that my point is that anyone who thinks that a market will give them long-term stable institutions/companies is wrong.I think that conclusion is likely to be surprising/controversial to some/many people.−jacques_chester13y> I guess that my point is that anyone who thinks that a market will give them long-term stable institutions/companies is wrong.Definitely. It's a complex, dynamic system that requires enormous amounts of failure, misattribution and foolish optimism to work.The beautiful thing is that it turns these human inevitabilities from negatives into positives.
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What's your point? Customers will choose the mix of cost and risk that makes them comfortable.
I guess that my point is that anyone who thinks that a market will give them long-term stable institutions/companies is wrong.
I think that conclusion is likely to be surprising/controversial to some/many people.
> I guess that my point is that anyone who thinks that a market will give them long-term stable institutions/companies is wrong.
Definitely. It's a complex, dynamic system that requires enormous amounts of failure, misattribution and foolish optimism to work.
The beautiful thing is that it turns these human inevitabilities from negatives into positives.