Relatively Smart Guy

*/By Rick Nason, PhD, CFA
Partner, RSD Solutions Inc./*

There once was a relatively smart guy who said quite a few smart things. 
You may have heard of him.  His name was Albert Einstein.  Once, when asked
how he came up with relativity, Einstein responded "I questioned an
axiom". 

In risk management we also have lots of axioms – although we do not always
characterize them as such.  We just assume that some things are true –
like more risk management is better, more regulation is better, more
quantitative analysis is better, more processes are better, etc.

Perhaps it is time, like Einstein, that we as a profession started to
question some axioms.