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Practice paper

Back-to-basics on the defensive: Now what for the risk profession?

Luca Celati
Journal of Risk Management in Financial Institutions, 1 (4), 452-457 (2008)
https://doi.org/10.69554/DSKB3885

Abstract

Recent problems in financial services have brought basic risk questions back to centre stage for management and policy-makers. Like millions of investors, governments and central banks face the common risk-growth trade-off. Financial institutions, in addition, are experiencing an intense soul-searching period. They had better prepare convincing answers quickly because the post-problem witch hunt by the media and politicians is in full swing.

Keywords: risk; liquidity risk; hedge fund; behavioural finance; prospect theory

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Author's Biography

Luca Celati is an independent investment consultant based near Lausanne, Switzerland. He remains on the board of the Abraxas Fund, the macro hedge fund that he co-founded in 2003. Previously, he was Head of Risk Management for the Global Debt Division of DRKW in London and Senior Proprietary Trader at Bankers Trust in London and New York. He has authored The Dark Side of Risk Management (FT/Pearson, 2004) and several technical articles in risk and hedge fund publications.

Citation

Celati, Luca (2008, September 1). Back-to-basics on the defensive: Now what for the risk profession?. In the Journal of Risk Management in Financial Institutions, Volume 1, Issue 4. https://doi.org/10.69554/DSKB3885.

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cover image, Journal of Risk Management in Financial Institutions
Journal of Risk Management in Financial Institutions
Volume 1 / Issue 4
© Henry Stewart
Publications LLP

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