2024-02-17 01:01:00 ET
Summary
- While we may use statistical measures like volatility or correlation to measure risk in practice, risk is not a statistical abstraction.
- Business owners can try to insulate themselves from catastrophic risk, but those protections may not exist, and even if they do, they may not be complete.
- Building in adaptability and safeguards against catastrophic risk makes sense only if the costs of doing so are less than the potential benefits.
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Catastrophic Risk: Investing And Business Implications