I’ve added the result of a quick random generation of possible outcomes of two types of individuals. This is not Monte Carlo simulation as has been discussed below, but rather a very simple illustrative example. This will further illustrate the points about in my previous post (and do also read the comments for some more…
Is your organisation one black swan away from disaster? Are you taking hidden risks in the quest for success, and using hope as your only risk management tool? Nassim Taleb’s books should be required reading for life Nassim Taleb is one of my new favourite authors. I’m actually a little slow on the uptake here…
Most people involved with insurance recognise that more premium is better (ceteris paribus of course). This is usually true (and occasionally not) but while some of the reasons are obvious, there are a variety of more subtle factors to take into account. This post will cover many of these factors, and point out a few…
…and a lesson about business process optimisation that you should learn The New York Times recently posted an incredibly interesting article about Google, providing more detail about their current search algorithms and processes. Google Keeps Tweaking Its Search Engine is definitely worth a read. Reading the article made we wonder for a moment whether Google…
