SlideShare une entreprise Scribd logo

Risk Management and Hedge Funds

•Télécharger en tant que PPT, PDF•
•
Barry Schachter
Barry Schachter

A discussion of risk lessons learned from the financial crisis. I argue that the public debate on risk management failures is mis-focused, and I propose an alternative paradigm for identifying the challenges to effective risk management and for directing future efforts to increase the effectiveness of risk management.

1  sur  18
 
Risk Management and Hedge Funds Barry Schachter
Outline of My Remarks ,[object Object],[object Object],[object Object],[object Object],[object Object]
The Crisis as Microscope ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
False Explanations Have Diverted Useful Discourse ,[object Object],[object Object],[object Object],[object Object]
Six Failures, but also Six Aspects of Reality ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Explanation Requires Paradigm Shift from Static to Dynamic ,[object Object],[object Object],[object Object]
Network Dynamics and Risk Management ,[object Object],[object Object],[object Object],[object Object],[object Object]
 
The Spread of the Credit Crisis: View from a Stock Correlation Networ k Reginald D. Smith (Feb ’09) Rethinking the Financial Network Andrew Haldane (Apr ‘09)
Risk Measurement as Epistemology ,[object Object],[object Object],[object Object]
Measurement ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Measurement ,[object Object],[object Object],[object Object],[object Object],[object Object]
Measurement ,[object Object],[object Object],[object Object],[object Object],[object Object]
Risk Management – Form ,[object Object],[object Object],[object Object],[object Object],[object Object]
Risk Management - Substance ,[object Object],[object Object],[object Object],[object Object]
Risk Management - Substance ,[object Object],[object Object],[object Object]
Future Direction ,[object Object],[object Object],[object Object],[object Object]

Recommandé

The New Risk Management Framework after the 2008 Financial Crisis
The New Risk Management Framework after the 2008 Financial CrisisThe New Risk Management Framework after the 2008 Financial Crisis
The New Risk Management Framework after the 2008 Financial Crisis
Barry Schachter
 
Schachter_Hedge_Fund_Risk_Management_2015_09_17
Schachter_Hedge_Fund_Risk_Management_2015_09_17Schachter_Hedge_Fund_Risk_Management_2015_09_17
Schachter_Hedge_Fund_Risk_Management_2015_09_17
Barry Schachter
 
Marsh Risk Financing Optimization
Marsh Risk Financing OptimizationMarsh Risk Financing Optimization
Marsh Risk Financing Optimization
William "Bill" Burst
 
Risk Management Case Study - Applied Concepts
Risk Management Case Study - Applied ConceptsRisk Management Case Study - Applied Concepts
Risk Management Case Study - Applied Concepts
Resolver Inc.
 
Enterprise Risk Management
Enterprise Risk ManagementEnterprise Risk Management
Enterprise Risk Management
Resolver Inc.
 
Governance Slidepack June2010 Without Notes
Governance Slidepack June2010 Without NotesGovernance Slidepack June2010 Without Notes
Governance Slidepack June2010 Without Notes
Traoloch Collins
 
The Risk Paradox: Showcasing the Success of Security
The Risk Paradox: Showcasing the Success of SecurityThe Risk Paradox: Showcasing the Success of Security
The Risk Paradox: Showcasing the Success of Security
Resolver Inc.
 
Hello ERM - It's Time to Go
Hello ERM - It's Time to GoHello ERM - It's Time to Go
Hello ERM - It's Time to Go
Resolver Inc.
 

Recommandé

The New Risk Management Framework after the 2008 Financial Crisis
The New Risk Management Framework after the 2008 Financial CrisisThe New Risk Management Framework after the 2008 Financial Crisis
The New Risk Management Framework after the 2008 Financial Crisis
Barry Schachter
 
Schachter_Hedge_Fund_Risk_Management_2015_09_17
Schachter_Hedge_Fund_Risk_Management_2015_09_17Schachter_Hedge_Fund_Risk_Management_2015_09_17
Schachter_Hedge_Fund_Risk_Management_2015_09_17
Barry Schachter
 
Marsh Risk Financing Optimization
Marsh Risk Financing OptimizationMarsh Risk Financing Optimization
Marsh Risk Financing Optimization
William "Bill" Burst
 
Risk Management Case Study - Applied Concepts
Risk Management Case Study - Applied ConceptsRisk Management Case Study - Applied Concepts
Risk Management Case Study - Applied Concepts
Resolver Inc.
 
Enterprise Risk Management
Enterprise Risk ManagementEnterprise Risk Management
Enterprise Risk Management
Resolver Inc.
 
Governance Slidepack June2010 Without Notes
Governance Slidepack June2010 Without NotesGovernance Slidepack June2010 Without Notes
Governance Slidepack June2010 Without Notes
Traoloch Collins
 
The Risk Paradox: Showcasing the Success of Security
The Risk Paradox: Showcasing the Success of SecurityThe Risk Paradox: Showcasing the Success of Security
The Risk Paradox: Showcasing the Success of Security
Resolver Inc.
 
Hello ERM - It's Time to Go
Hello ERM - It's Time to GoHello ERM - It's Time to Go
Hello ERM - It's Time to Go
Resolver Inc.
 
6% Rule Paper - Improving Sustainable Withdrawal Rates
6% Rule Paper - Improving Sustainable Withdrawal Rates6% Rule Paper - Improving Sustainable Withdrawal Rates
6% Rule Paper - Improving Sustainable Withdrawal Rates
The 401k Study Group ®
 
App Showcase: Enterprise Risk Management
App Showcase: Enterprise Risk ManagementApp Showcase: Enterprise Risk Management
App Showcase: Enterprise Risk Management
Resolver Inc.
 
Globals - Too Big to Govern?
Globals - Too Big to Govern?Globals - Too Big to Govern?
Globals - Too Big to Govern?
Resolver Inc.
 
HFMA Searching for Risk, April 2004
HFMA Searching for Risk, April 2004HFMA Searching for Risk, April 2004
HFMA Searching for Risk, April 2004
Theim912
 
Holistic approach towards risk management
Holistic approach towards risk managementHolistic approach towards risk management
Holistic approach towards risk management
PureValueAdvisors
 
The Intersection of Risk, Security, and Performance
The Intersection of Risk, Security, and PerformanceThe Intersection of Risk, Security, and Performance
The Intersection of Risk, Security, and Performance
Resolver Inc.
 
Risk
RiskRisk
Risk
Julio Huato
 
Risk & return measurement
Risk & return measurementRisk & return measurement
Risk & return measurement
Ruby Sharma
 
Managing Risk In A Complex World - Bob Maynard
Managing Risk In A Complex World - Bob MaynardManaging Risk In A Complex World - Bob Maynard
Managing Risk In A Complex World - Bob Maynard
Trading Game Pty Ltd
 
international paper Q2 2007 10-Q
international paper Q2 2007 10-Qinternational paper Q2 2007 10-Q
international paper Q2 2007 10-Q
finance12
 
Kuldvillak Geo7
Kuldvillak Geo7Kuldvillak Geo7
Kuldvillak Geo7
Tiiu Ehrenpreis
 
I Asked God
I Asked GodI Asked God
I Asked God
ninedots
 
international paper Q3 2004 10-Q
international paper Q3 2004 10-Qinternational paper Q3 2004 10-Q
international paper Q3 2004 10-Q
finance12
 
FINAL EXAM IN COMPUTER III
FINAL EXAM IN COMPUTER IIIFINAL EXAM IN COMPUTER III
FINAL EXAM IN COMPUTER III
ShaineJustyne
 
goodyear 10Q Reports1Q'04 10-Q/A
goodyear 10Q Reports1Q'04 10-Q/Agoodyear 10Q Reports1Q'04 10-Q/A
goodyear 10Q Reports1Q'04 10-Q/A
finance12
 
international paper Q1 2002 10-Q
international paper Q1 2002 10-Qinternational paper Q1 2002 10-Q
international paper Q1 2002 10-Q
finance12
 
goodyear 8K Reports 2/18/09
goodyear 8K Reports 2/18/09goodyear 8K Reports 2/18/09
goodyear 8K Reports 2/18/09
finance12
 
Strategic Communications Planning
Strategic Communications PlanningStrategic Communications Planning
Strategic Communications Planning
Ohio Environmental Council
 
Building Next Generation Applications With BuddyPress
Building Next Generation Applications With BuddyPressBuilding Next Generation Applications With BuddyPress
Building Next Generation Applications With BuddyPress
David Bisset
 
Business Outlook coca cola enterprises
Business Outlook coca cola enterprises Business Outlook coca cola enterprises
Business Outlook coca cola enterprises
finance12
 
The Art of Fooling Men
The Art of Fooling MenThe Art of Fooling Men
The Art of Fooling Men
ninedots
 
constellation energy 2008 First Quarter Form 10-Q
constellation energy 2008 First Quarter Form 10-Qconstellation energy 2008 First Quarter Form 10-Q
constellation energy 2008 First Quarter Form 10-Q
finance12
 

Contenu connexe

Tendances

Tendances (9)

6% Rule Paper - Improving Sustainable Withdrawal Rates
6% Rule Paper - Improving Sustainable Withdrawal Rates6% Rule Paper - Improving Sustainable Withdrawal Rates
6% Rule Paper - Improving Sustainable Withdrawal Rates
 
App Showcase: Enterprise Risk Management
App Showcase: Enterprise Risk ManagementApp Showcase: Enterprise Risk Management
App Showcase: Enterprise Risk Management
 
Globals - Too Big to Govern?
Globals - Too Big to Govern?Globals - Too Big to Govern?
Globals - Too Big to Govern?
 
HFMA Searching for Risk, April 2004
HFMA Searching for Risk, April 2004HFMA Searching for Risk, April 2004
HFMA Searching for Risk, April 2004
 
Holistic approach towards risk management
Holistic approach towards risk managementHolistic approach towards risk management
Holistic approach towards risk management
 
The Intersection of Risk, Security, and Performance
The Intersection of Risk, Security, and PerformanceThe Intersection of Risk, Security, and Performance
The Intersection of Risk, Security, and Performance
 
Risk
RiskRisk
Risk
 
Risk & return measurement
Risk & return measurementRisk & return measurement
Risk & return measurement
 
Managing Risk In A Complex World - Bob Maynard
Managing Risk In A Complex World - Bob MaynardManaging Risk In A Complex World - Bob Maynard
Managing Risk In A Complex World - Bob Maynard
 

En vedette

international paper Q2 2007 10-Q
international paper Q2 2007 10-Qinternational paper Q2 2007 10-Q
international paper Q2 2007 10-Q
finance12
 
I Asked God
I Asked GodI Asked God
I Asked God
ninedots
 
international paper Q3 2004 10-Q
international paper Q3 2004 10-Qinternational paper Q3 2004 10-Q
international paper Q3 2004 10-Q
finance12
 
goodyear 10Q Reports1Q'04 10-Q/A
goodyear 10Q Reports1Q'04 10-Q/Agoodyear 10Q Reports1Q'04 10-Q/A
goodyear 10Q Reports1Q'04 10-Q/A
finance12
 
international paper Q1 2002 10-Q
international paper Q1 2002 10-Qinternational paper Q1 2002 10-Q
international paper Q1 2002 10-Q
finance12
 
goodyear 8K Reports 2/18/09
goodyear 8K Reports 2/18/09goodyear 8K Reports 2/18/09
goodyear 8K Reports 2/18/09
finance12
 
Business Outlook coca cola enterprises
Business Outlook coca cola enterprises Business Outlook coca cola enterprises
Business Outlook coca cola enterprises
finance12
 
The Art of Fooling Men
The Art of Fooling MenThe Art of Fooling Men
The Art of Fooling Men
ninedots
 
constellation energy 2008 First Quarter Form 10-Q
constellation energy 2008 First Quarter Form 10-Qconstellation energy 2008 First Quarter Form 10-Q
constellation energy 2008 First Quarter Form 10-Q
finance12
 
goodyear 8K Reports 10/30/07
goodyear 8K Reports 10/30/07goodyear 8K Reports 10/30/07
goodyear 8K Reports 10/30/07
finance12
 
How To Make A Pbj
How To Make A PbjHow To Make A Pbj
How To Make A Pbj
guesteb6def
 
constellation energy Bylaws
constellation energy Bylawsconstellation energy Bylaws
constellation energy Bylaws
finance12
 
Doug Platts, Head of Natural Search, Integrated Marketing Search
Doug Platts, Head of Natural Search, Integrated Marketing SearchDoug Platts, Head of Natural Search, Integrated Marketing Search
Doug Platts, Head of Natural Search, Integrated Marketing Search
iCrossing
 
goodyear 10Q Reports3Q'07 10-Q
goodyear 10Q Reports3Q'07 10-Qgoodyear 10Q Reports3Q'07 10-Q
goodyear 10Q Reports3Q'07 10-Q
finance12
 

En vedette (20)

international paper Q2 2007 10-Q
international paper Q2 2007 10-Qinternational paper Q2 2007 10-Q
international paper Q2 2007 10-Q
 
Kuldvillak Geo7
Kuldvillak Geo7Kuldvillak Geo7
Kuldvillak Geo7
 
I Asked God
I Asked GodI Asked God
I Asked God
 
international paper Q3 2004 10-Q
international paper Q3 2004 10-Qinternational paper Q3 2004 10-Q
international paper Q3 2004 10-Q
 
FINAL EXAM IN COMPUTER III
FINAL EXAM IN COMPUTER IIIFINAL EXAM IN COMPUTER III
FINAL EXAM IN COMPUTER III
 
goodyear 10Q Reports1Q'04 10-Q/A
goodyear 10Q Reports1Q'04 10-Q/Agoodyear 10Q Reports1Q'04 10-Q/A
goodyear 10Q Reports1Q'04 10-Q/A
 
international paper Q1 2002 10-Q
international paper Q1 2002 10-Qinternational paper Q1 2002 10-Q
international paper Q1 2002 10-Q
 
goodyear 8K Reports 2/18/09
goodyear 8K Reports 2/18/09goodyear 8K Reports 2/18/09
goodyear 8K Reports 2/18/09
 
Strategic Communications Planning
Strategic Communications PlanningStrategic Communications Planning
Strategic Communications Planning
 
Building Next Generation Applications With BuddyPress
Building Next Generation Applications With BuddyPressBuilding Next Generation Applications With BuddyPress
Building Next Generation Applications With BuddyPress
 
Business Outlook coca cola enterprises
Business Outlook coca cola enterprises Business Outlook coca cola enterprises
Business Outlook coca cola enterprises
 
The Art of Fooling Men
The Art of Fooling MenThe Art of Fooling Men
The Art of Fooling Men
 
constellation energy 2008 First Quarter Form 10-Q
constellation energy 2008 First Quarter Form 10-Qconstellation energy 2008 First Quarter Form 10-Q
constellation energy 2008 First Quarter Form 10-Q
 
goodyear 8K Reports 10/30/07
goodyear 8K Reports 10/30/07goodyear 8K Reports 10/30/07
goodyear 8K Reports 10/30/07
 
How To Make A Pbj
How To Make A PbjHow To Make A Pbj
How To Make A Pbj
 
constellation energy Bylaws
constellation energy Bylawsconstellation energy Bylaws
constellation energy Bylaws
 
Doug Platts, Head of Natural Search, Integrated Marketing Search
Doug Platts, Head of Natural Search, Integrated Marketing SearchDoug Platts, Head of Natural Search, Integrated Marketing Search
Doug Platts, Head of Natural Search, Integrated Marketing Search
 
goodyear 10Q Reports3Q'07 10-Q
goodyear 10Q Reports3Q'07 10-Qgoodyear 10Q Reports3Q'07 10-Q
goodyear 10Q Reports3Q'07 10-Q
 
iCrossing UK Client Summit 2011 - Total retail: mobile and the multichannel mix
iCrossing UK Client Summit 2011 - Total retail: mobile and the multichannel mixiCrossing UK Client Summit 2011 - Total retail: mobile and the multichannel mix
iCrossing UK Client Summit 2011 - Total retail: mobile and the multichannel mix
 
GLISTEN
GLISTENGLISTEN
GLISTEN
 

Similaire à Risk Management and Hedge Funds

Risk Management Lessons From The Current Crisis Ppt2003
Risk Management Lessons From The Current Crisis Ppt2003Risk Management Lessons From The Current Crisis Ppt2003
Risk Management Lessons From The Current Crisis Ppt2003
Barry Schachter
 
Unisa risk analysis
Unisa risk analysisUnisa risk analysis
Unisa risk analysis
sgd3261
 
Limited Attention, Information Disclosure, and Financial Reporting
Limited Attention, Information Disclosure, and Financial ReportingLimited Attention, Information Disclosure, and Financial Reporting
Limited Attention, Information Disclosure, and Financial Reporting
David Hirshleifer
 
Bridging the Gap between Psychology and Economics: The Role of Behavioral Fin...
Bridging the Gap between Psychology and Economics: The Role of Behavioral Fin...Bridging the Gap between Psychology and Economics: The Role of Behavioral Fin...
Bridging the Gap between Psychology and Economics: The Role of Behavioral Fin...
inventionjournals
 
Student 1 The main intention of this framework is to support .docx
Student 1 The main intention of this framework is to support .docxStudent 1 The main intention of this framework is to support .docx
Student 1 The main intention of this framework is to support .docx
cpatriciarpatricia
 

Similaire à Risk Management and Hedge Funds (20)

Risk Management Lessons From The Current Crisis Ppt2003
Risk Management Lessons From The Current Crisis Ppt2003Risk Management Lessons From The Current Crisis Ppt2003
Risk Management Lessons From The Current Crisis Ppt2003
 
Datashop Alchemy
Datashop AlchemyDatashop Alchemy
Datashop Alchemy
 
American Bankers Association Risk Management Forum April 29, 2010 Tyler D. ...
American Bankers Association Risk Management Forum April 29, 2010 Tyler D. ...American Bankers Association Risk Management Forum April 29, 2010 Tyler D. ...
American Bankers Association Risk Management Forum April 29, 2010 Tyler D. ...
 
Risk taking in Academic Libraries: The Implications of Prospect Theory
Risk taking in Academic Libraries: The Implications of Prospect TheoryRisk taking in Academic Libraries: The Implications of Prospect Theory
Risk taking in Academic Libraries: The Implications of Prospect Theory
 
Quantum Marketing by Bryan Gildenberg
Quantum Marketing by Bryan GildenbergQuantum Marketing by Bryan Gildenberg
Quantum Marketing by Bryan Gildenberg
 
Investor psychology and asset pricing
Investor psychology and asset pricingInvestor psychology and asset pricing
Investor psychology and asset pricing
 
Evaluating Risk In Current Markets
Evaluating Risk In Current MarketsEvaluating Risk In Current Markets
Evaluating Risk In Current Markets
 
John Rutledge, Claremont Graduate University February 14, 2012
John Rutledge, Claremont Graduate University February 14, 2012John Rutledge, Claremont Graduate University February 14, 2012
John Rutledge, Claremont Graduate University February 14, 2012
 
Current Issues in Risk Mangement
Current Issues in Risk MangementCurrent Issues in Risk Mangement
Current Issues in Risk Mangement
 
Risk and Resilience: Towards a more effective narrative
Risk and Resilience: Towards a more effective narrative Risk and Resilience: Towards a more effective narrative
Risk and Resilience: Towards a more effective narrative
 
Unisa risk analysis
Unisa risk analysisUnisa risk analysis
Unisa risk analysis
 
Limited Attention, Information Disclosure, and Financial Reporting
Limited Attention, Information Disclosure, and Financial ReportingLimited Attention, Information Disclosure, and Financial Reporting
Limited Attention, Information Disclosure, and Financial Reporting
 
Speculations on the Role of the Risk Manager Post Crisis
Speculations on the Role of the Risk Manager Post CrisisSpeculations on the Role of the Risk Manager Post Crisis
Speculations on the Role of the Risk Manager Post Crisis
 
Bridging the Gap between Psychology and Economics: The Role of Behavioral Fin...
Bridging the Gap between Psychology and Economics: The Role of Behavioral Fin...Bridging the Gap between Psychology and Economics: The Role of Behavioral Fin...
Bridging the Gap between Psychology and Economics: The Role of Behavioral Fin...
 
Student 1 The main intention of this framework is to support .docx
Student 1 The main intention of this framework is to support .docxStudent 1 The main intention of this framework is to support .docx
Student 1 The main intention of this framework is to support .docx
 
Emergence of the Chief Risk Officer function
Emergence of the Chief Risk Officer functionEmergence of the Chief Risk Officer function
Emergence of the Chief Risk Officer function
 
Risk Whitepaper
Risk WhitepaperRisk Whitepaper
Risk Whitepaper
 
Hidden flaws in strategy
Hidden flaws in strategyHidden flaws in strategy
Hidden flaws in strategy
 
A critique of doug hubbards the failure of risk management
A critique of doug hubbards the failure of risk managementA critique of doug hubbards the failure of risk management
A critique of doug hubbards the failure of risk management
 
Ruminations: On Risk And Reality
Ruminations: On Risk And RealityRuminations: On Risk And Reality
Ruminations: On Risk And Reality
 

Risk Management and Hedge Funds

  • 1.  
  • 2. Risk Management and Hedge Funds Barry Schachter
  • 3.
  • 4.
  • 5.
  • 6.
  • 7.
  • 8.
  • 9.  
  • 10. The Spread of the Credit Crisis: View from a Stock Correlation Networ k Reginald D. Smith (Feb ’09) Rethinking the Financial Network Andrew Haldane (Apr ‘09)
  • 11.
  • 12.
  • 13.
  • 14.
  • 15.
  • 16.
  • 17.
  • 18.

Notes de l'éditeur

  1. 18 countries with the nodes scaled in proportion to total external financial stocks, while the thickness of the links between nodes is proportional to bilateral external financial stocks relative to GDP.