THOUGHT FOR THE DAY

Risk Management

“The fact that people are full of greed, fear, or folly is predictable. The sequence is not predictable.” - Warren Buffett

TOPIC OF THE DAY

Risk Management

Risk Management is the process of measuring, or assessing risk and developing strategies to manage it. Strategies include transferring the risk to another party, avoiding the risk, reducing the negative effect of the risk, and accepting some or all of the consequences of a particular risk. Traditional risk management focuses on risks stemming from physical or legal causes.

Financial risk management, on the other hand, focuses on risks that can be managed using traded financial instruments. Regardless of the type of risk management, all large corporations have risk management teams and small groups and corporations practice informal, if not formal, risk management.

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