Understanding Risk Management: From Surfing to Retirement | Allison Schrager | TAKE 15 PODCAST

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Perfect risk estimates do not exist, so how do we balance risk and reward? Risk scholar Allison Schrager, author of the CFA Institute Research Foundation brief “Learning About Risk Management: Insights from Unconventional Risk-Takers,” provides insights on the nature of risk and uncertainty and potential reward and how to manage the trade-off.
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Topics discussed:
2:25 Brothel, pimp, and risk management?
5:30 More noes than yeses
7:42 The art of storytelling
9:41 Lessons learned from big wave surfing
13:16 Allison’s book, An Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk
14:40 What is risk? And what is prudent or good risk management?
15:50 Retirement: What does it look like in the US right now? What worries you? And what gives you hope?
17:45 Should the idea of retirement be reimagined?
19:41 Why shouldn’t Americans own stocks?
22:10 What’s next on Allison’s to-do-list?
23:15 Allison’s advice on encouraging people to take on more sensible risk
24:05 Wrap-up questions
o One long-term change that you hope to see as a result of the pandemic
o What one item would you bring on a long space flight?
o Flight vs. invisibility?
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