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By Benjamin GAUTHIER and Olivier CARRÉ, PwC
PwC Luxembourg releases a new report providing stakeholders within the financial sector, and particularly in the asset management industry, with an overview of the risk management tools needed to not only survive in adversity, but embrace risks as opportunities.
In 2007, The Black Swan: The Impact of the Highly Improbable, a book by Lebanese-American public intellectual Nassim Nicholas Taleb was all the rage. The book highlights how unpredictable events – ‘black swans’ – can have extreme impacts with severe negative repercussions, and calls for adequately preparing for, rather than predicting, these events.
Since the global financial crisis (GFC) – the period of extreme stress in...
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