No, COVID-19 is not a Black Swan event*

There’s a special kind of history re-writing going on right now among some financial analysts, risk managers, C-level leadership, politicians and anyone else responsible for forecasting and preparing for major business, societal and economic disruptions. We’re about 3 months into the COVID-19 outbreak and people are starting to declare this a “Black Swan” event. Not only is “Black Swan” a generally bad and misused metaphor, but the current pandemic also doesn’t fit the definition. I think it’s a case of CYA.

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Book Review | The Failure of Risk Management: Why It's Broken and How to Fix It, 2nd Edition

When the first edition of The Failure of Risk Management: Why It's Broken and How to Fix It by Douglas Hubbard came out in 2012, it made a lot of people uncomfortable. Hubbard laid out well-researched arguments that some of businesses’ most popular methods of measuring risk have failed, and in many cases, are worse than doing nothing. Some of these methods include the risk matrix, heat map, ordinal scales, and other methods that fit into the qualitative risk category. Readers of the 1st edition will know that the fix is, of course, methods based on mathematical models, simulations, data, and evidence collection.

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My SIRAcon 2019 Presentation Decks

Whew! Just wrapped up my two sessions at SIRAcon 2019. I’m posting my decks here and abstracts for attendees (or people that wish they attended) to reference. I realize that they may not make a ton of sense without the narration - I’m going to publish a videos and/or transcripts at a later date.

My first session was at the SIRAcon 2019 Pre-Conference Skills Workshop Day. I was joined by Lisa Young, Jay Jacobs, Richard Seiersen and David Severski to teach attendees modeling in R, the fundamentals of risk and pooling the opinions of experts. Here’s my session information:

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