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Tag Archives: risk models

Run More Risk Models Faster? … Maybe

– Jim Goodnight, the co-founder and CEO of the SAS Institute has suggested (see Penny Crosman’s March 28, 2013 article “The Trouble with Banks’ Risk Models: Q&A with the Chief of SAS,” at…

Risk and Human Frailty

– My September 12, 2011 BlogInfoSec column “Risk Management – Scoring vs. Monte Carlo vs. Scoring” was about the subjectivity of risk assessments, where the term “subjectivity” was defined as one’s personal view of particular risks. I received some considerable push-back from the likes…

The Meaning of Risk, the Universe, and Everything

– The title of this column paraphrases the question “What is the meaning of Life, the Universe, and Everything?” asked of the mega-computer “Deep Thought” in Douglas Adam’s book, The Hitchhiker’s Guide to the Galaxy. After 7 ½ million years of calculation, the computer came up with the…

Are Risk Models or Data to Blame? Yes!

– On the front page of the June 24, 2010 issue of The Wall Street Journal there is an article by Neil King Jr. and Keith Johnson with the title “BP Relied on Faulty U.S. Data.” When you turn the page (note that I’m reading the actual physical newspaper, not an electronic version, so I actually…

Risky Behavior – New York Times’ Swan Songs

– In an earlier column, Security and Change: Black Swans, posted on April 14, 2008, I drew your attention to an excellent book called The Black Swan written by Nassim Nicholas Taleb. Taleb points out that humans are particularly poor at predicting and preparing for catastrophic events, such as the…