Insanity

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

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Einstein is well known for stating that insanity is doing the same thing over
and over again and expecting a different result.  That is true if you are
dealing with something that is simple – such as using the coffee maker, or
even something complicated such as using a computer.  However risk is
complex, and one thing that complexity theory tells us is that you get a
different result every time.  Therefore Einstein was wrong – at least on
this one as it applies to risk management.  As risk managers we have to
expect different results each and every time we perform an action or create a
rule or a regulation.  To do otherwise would be insane.


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Asthma Cures

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

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Theodore Roosevelt suffered from chronic asthma as a child.  His parents,
like all parents would, sought out the best cures for his condition. 
Ironically enough, one of the suggested cures was supposedly cigar smoking. 
In today's age the suggestion that cigar smoking would alleviate asthma
seems comical at best but more likely dangerous and counter-productive. 
However before we marvel at the stupidity of medical thinking in the late
1800's we ought to pause and realize that many of our best thoughts today
will equally be seen as comical at best and more likely dangerous and
counterproductive 150 years from now.  Furthermore, we in risk management
are very likely not immune from that fact.


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