Difference between revisions of "Risk Management One-Liners"
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== Collection of Risk Management One-Liners == | == Collection of Risk Management One-Liners == | ||
| − | + | * When a measure becomes a target, it ceases to be a good measure ([[Goodhart’s Law]]) | |
| − | + | * Skin in the Game | |
| − | + | * You cannot manage what you cannot measure | |
| − | + | * Fix the roof while the sun is shining | |
| − | + | * Trust but verify | |
| − | + | * Follow the money | |
| − | + | * If it's too good to be true, it usually is | |
| − | + | * There is never only one cockroach | |
| − | + | * Put all your eggs in one basket and watch it closely | |
| − | + | * Lies, damned lies, and statistics | |
| − | + | * When the tide goes out you find who's been swimming naked | |
| − | + | * There is a sucker born every minute | |
| − | + | * The problem with experts is that they do not know what they do not know | |
| − | + | * If you do not know who the patsy is you are the patsy | |
| − | + | * All models are wrong, but some are useful | |
| − | + | * Prediction is very difficult, especially about the future | |
| − | + | * That will never happen because I have never seen it occur in my lifetime | |
| − | + | * God is in the details. The Devil is in the details too | |
| − | + | * Fear the Greeks, even when they bring gifts | |
| − | + | * Don't fall in love with your risk models | |
| − | + | * The biggest risk is not taking one | |
| − | + | * Any fool can make a complex model, simplicity is the key to brilliance | |
| − | + | * It is the leverage, stupid | |
| − | + | * Asking the question is the hardest step | |
| − | + | * Hope is not a hedge | |
| − | + | * Never Waste a Good Crisis | |
| − | |||
== See Also == | == See Also == | ||
Latest revision as of 10:47, 4 March 2024
Collection of Risk Management One-Liners
- When a measure becomes a target, it ceases to be a good measure (Goodhart’s Law)
- Skin in the Game
- You cannot manage what you cannot measure
- Fix the roof while the sun is shining
- Trust but verify
- Follow the money
- If it's too good to be true, it usually is
- There is never only one cockroach
- Put all your eggs in one basket and watch it closely
- Lies, damned lies, and statistics
- When the tide goes out you find who's been swimming naked
- There is a sucker born every minute
- The problem with experts is that they do not know what they do not know
- If you do not know who the patsy is you are the patsy
- All models are wrong, but some are useful
- Prediction is very difficult, especially about the future
- That will never happen because I have never seen it occur in my lifetime
- God is in the details. The Devil is in the details too
- Fear the Greeks, even when they bring gifts
- Don't fall in love with your risk models
- The biggest risk is not taking one
- Any fool can make a complex model, simplicity is the key to brilliance
- It is the leverage, stupid
- Asking the question is the hardest step
- Hope is not a hedge
- Never Waste a Good Crisis
