Perhaps it’s time to start shooting those black swans.
For the last several months we’ve all heard more and more about risk management, primarily because a class of supposed geniuses on Wall Street ruined the economy for the rest of us. Now the buzzword in Washington is risk management, all the time. And the most feared risk of all is the “black swan” risk: that threat nobody has ever considered, and nobody can see coming. Think Sept. 11 attacks; think the rise of Google; think collapse of the financial markets.
