"Being clever at explaining away errors and taking credit for accidental successes leads to more acclaim and power than making good risk decisions in the first place. In fact, good risk decisions usually lead to the appearance of alternating complacency and erratic actions," says, Aaron Brown, risk manager at AQR Capital Management, in his new book RED-BLOODED RISK (Wiley; October 2011; $34.95; 978-1-1180-4386-8; Hardcover; Ebook).
Risk is associated with things that are innovative, daring, creative, and bold, but those are exactly the same things that are reckless, speculative, risk, and irresponsible. In the book, Brown explores the different aspects of risk, offering a treatise on the theory, history, and practice of managing risk, as well as advice for the calculated risk-takers who need precise quantitative guidance that will help separate them from the rest of the pack.
Risk taking is not just a quantitative discipline; it is a philosophy of life. RED-BLOODED RISK demonstrates how embracing risk taking opportunities that offer a positive edge in the long run will result in expected outcomes.
To view the entire press release: http://www.wiley.com/WileyCDA/PressRelease/pressReleaseId-101207.html