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Risk, Time & Reversibility

What I’ll be spending a good chunk of my day reading and thinking about:

Risk, Time and Reversibility by Peter Bernstein.  

“More months ago than I can remember, I gave Orio Giarini a title for this presentation: “The Stock Market as Risk Manager”.  As what I have finally produced is, I hope, relevant to the analysis of risks beyond the risks of equity ownership, I now propose that the title should be “Risk, Time and Reversibility”.  Indeed, I have attempted to use this opportunity to take a fresh look at the nature of risk, with the stock market as only a guide to accompany us on this exploration.”

Read it here.  Feel free to throw in some comments of your own if you’d like.

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