I don't see what the alternative to risk management is. If…
“I don't see what the alternative to risk management is. If it's just getting rid of the models and instead using the smart people who can figure it out? How do you train them? What do you teach them? Do you just put them in a cockpit and let them stumble for 10 years of their life and then after that they're good at it?”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Questioning alternatives to risk models and emphasizing training smart people.
In simple terms: Risk models vs. human expertise.
Key Takeaway
Balance model use with skilled personnel.
Themes
risk management
human capital
training
Mood
analytical
pragmatic
Type
professional
educational
When to use this quote
- finance
- engineering
- leadership development
Key Concepts
decision theory
organizational behavior
Questions to Reflect On
- How can models and expertise complement each other?
- What training best prepares people for risk decisions?
A Different Perspective
Overreliance on individuals can cause inconsistency and bias.