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 | * Skin in the Game | ||
* You cannot manage what you cannot measure | * You cannot manage what you cannot measure | ||
| Line 16: | Line 17: | ||
* All models are wrong, but some are useful | * All models are wrong, but some are useful | ||
* Prediction is very difficult, especially about the future | * Prediction is very difficult, especially about the future | ||
| − | * That will never happen because I have never seen it occur in my lifetime | + | * 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 | * God is in the details. The Devil is in the details too | ||
* Fear the Greeks, even when they bring gifts | * Fear the Greeks, even when they bring gifts | ||
| Line 24: | Line 25: | ||
* It is the leverage, stupid | * It is the leverage, stupid | ||
* Asking the question is the hardest step | * Asking the question is the hardest step | ||
| − | * Hope is not a hedge | + | * Hope is not a hedge |
| − | * Never Waste a Good Crisis | + | * 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
