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 how to manage them.
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.
The Take 15 Series is a collection of illuminating, short conversations with noted economists, best-selling authors, leading researchers, and successful practitioners on topics ranging from geopolitics and whistleblowing to irrationality and outlooks.
Episode Transcript (PDF)
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? [HBR link]
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
- One long-term change that you hope to see as a result of the pandemic
- What one item would you bring on a long space flight?
- Flight vs. invisibility?
- Research Foundation Brief: Learning about Risk Management: Insights from Unconventional Risk-Takers
- Allison’s book: An Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk
- HBR: Why Retirement Is a Flawed Concept
- Download and share Research Foundation content (free to all)