Word: wager
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...being employed were. But with compensation aligned with metrics like revenue and market share, and not risk mitigation, the forward push continued. When managers did articulate problems, they were often ignored. In August 2007, one of Merrill Lynch's top risk managers warned his boss that a decision to wager $3 billion on indexes of mortgage-related securities was too risky. The firm made the bet anyway; three months later, the risk manager left. "The psychology during a boom makes it very difficult to come up with large stress scenarios and get management to consider them to be credible," says...
...their Commander in Chief, referred to coyly as "G.W." ("I am here because strong people put me here," he says, "and weak ones went along.") The war critique is more soft-pedaled in docuplays like In Conflict, a collection of monologues by war veterans, adapted by Douglas C. Wager from interviews conducted by Yvonne Latty (first produced at Philadelphia's Temple University and now playing off-Broadway). Though the play is worthy and often affecting, the selection of vets seems as calculated as that of a Hollywood WW II platoon (disillusioned amputee, gung-ho nurse, gay soldier burdened...
...than just a measure. Where there's volatility, there's money to be made. Investors have been able to trade options on the VIX - essentially, bets against the index's own movements - since the Chicago Board introduced them in 2006. What's more, niche hedge funds set up to wager on rising volatility - New York-based AM Investment Partners, for one - have outperformed the markets as well as conventional funds in recent weeks. If that seems a bit rich, it might be time to add some volatility to your portfolio...
...confetti flurried. It's one of his favorite lines, and usually it provokes a quibble: Isn't that your name on the buttons and your face on the T-shirts? But as a closing note for this historic convention, it was another selection of perfect words. This is the wager the Democrats have pushed to the center of the table this week: that they can make this election not about...
...Amos Tversky, who studied behavioral economics. Kahneman and Tversky found that people don't always behave in the rational manner that the classical economic models predict. When they get ahead in the game, they may begin to get conservative--playing it safe even when the odds say a big wager is likely...