Known, the Unknown, and the Unknowable in Financial Risk Management

A clear understanding of what we know, don''t know, and can''t know should guide any reasonable approach to managing financial risk, yet the most widely used measure in finance today--Value at Risk, or VaR--reduces these risks to a single number, creating a false sense of security among risk managers, executives, and regulators. This book introduces a more realistic and holistic framework called
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