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Strategies & Market Trends : Currencies and the Global Capital Markets
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To: tom who wrote (619)9/9/1998 9:21:00 AM
From: Henry Volquardsen   of 3536
 
"The head of the derivatives department isn't going to say that there's a 1-in-100,000 chance that he could blow the firm up. You'd never be in business if you were willing to admit that it may happen"

I am and I do admit it. Any reasonable business manager recognizes risk and is willing to admit. But put that comment about 1-in-100,000 chance of blowing up the firm in context. First, it is fairly remote. Second think of a non-financial firm. If the head of development for a company commits to a big development program to penetrate a new market and they are taking a risk that they are wrong and will bankrupt the company. The chances are that most companies, in the normal course of business, take risks that may blow up the company.
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