http://www.economist.com/finance/dis...ry_id=11897037Why did banks become so overexposed in the run-up to the credit crunch? A risk manager at a large global bank—someone whose job it was to make sure that the firm did not take unnecessary risks—explains in his own words
Lots of good stuff in an accessible article - quite insightful, and matches some of my own experiences in risk estimation, valuing illiquid instruments and downside scenarios.



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