Understanding Risk Management: From Surfing to Retirement Enterprising Investor

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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►Transcript: https://cfainst.is/2P87gNN 
 
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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? [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
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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Related articles and links:
 
Learning about Risk Management: Insights from Unconventional Risk-Takers: https://www.cfainstitute.org/en/research/foundation/2020/learning-about-risk-management   
An Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk: https://www.amazon.com/Economist-Walks-into-Brothel-Unexpected-ebook/dp/B07FLK37HC#:~:text=Amazon.com%3A%20An%20Economist%20Walks,%3A%20Schrager%2C%20Allison%3A%20Kindle%20Store 
 
HBR article Why Retirement Is a Flawed Concept: https://hbr.org/2016/04/why-retirement-is-a-flawed-concept 
 
CFA Institute members and charterholders Professional Learning Tracker https://cpd.cfainstitute.org/ 
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Find Allison here:
LinkedIn: https://www.linkedin.com/in/allison-schrager-4109015/
Twitter: https://twitter.com/AllisonSchrager 
 
Find Lauren here:
 
LinkedIn: https://www.linkedin.com/in/lauren- foster/ 
Twitter: https://twitter.com/laurenfosternyc 
 
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