Hello Cam,

Thank you for your comment.

I find it troubling that volatility (i.e. variance and standard deviation) continues to serve as a risk proxy. However, defining volatility as risk is standard in parts of the finance industry. Our CFA program is not intended as an endorsement, but instead is designed to provide financial professionals with a broad-based knowledge base in the industry. For example, E = MC^2 is a superior formula to F = MA, but F = MA is still taught. We do not reject science as a discipline because of this : )

Yours, in service,

Jason