by Rick Nason, PhD, CFA
Partner, RSD Solutions Inc.
I was reading a very interesting Harvard Business Review article by Amar Bhide that I have been meaning to read for some time. The article is titled “The Judgment Deficit” (HBR, September 2010, pp 44 - 53). I will outline the article in my next blog as I believe it is an important article that has a lot of relevance for risk managers. The point I want to make in this blog is about a quote from futurist Paul Saffo that Bhide puts in his article. The quote is: “Face it, innovation is an elite activity”. What bull%$#^! was my first reaction. And then I realized that we now depend on the almighty financial engineers and risk doctors (of which I am one) before we dare make a move. Crap – he may be right was my second reaction. Sad is how I currently feel.
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