The Book of Risk - Hardcover

Borge, Dan

Hardcover

ISBN 10: 0471323780 ISBN 13: 9780471323785

Publisher: John Wiley & Sons, 2001

Synopsis

Learn the art--and science--of risk management
In this exceptionally lucid, accessible book, one of the most highly regarded industry experts illuminates the delicate process of making decisions in an uncertain world and helps both lay people and professional risk managers understand the role of "risk-management" in their work, their lives, and their businesses. This book will enable professional risk managers to truly grasp the concepts behind their tools, and it will enable their clients (investors) and their coworkers to understand them as well. Handy and easy-to-read, The Book of Risk provides a down-to-earth look at an exciting field that has practical applications for everyone.
Dan Borge, PhD (Clinton Corners, NY), was managing director and partner at Bankers Trust Company. He was with Bankers Trust for the last twenty years and was the architect of the first-ever risk management system implemented institutionally--Bankers Trust's renowned RAROC system. Prior to working at Bankers Trust, he designed airplanes at Boeing. He is an aeronautical engineer and has a PhD in finance from Harvard Business School.

About this title

About the Author

DAN BORGE was managing director and partner at Bankers Trust Company. During his twenty years with Bankers Trust, he was the architect of RAROC, the first-ever risk management system implemented institutionally. Prior to working at Bankers Trust, he designed airplanes at Boeing. Mr. Borge has a degree in aeronautical engineering and a doctorate in finance from Harvard Business School.

From the Back Cover

Praise for The Book of Risk

"Failure to read and to heed Borge on risk is an unacceptable risk."-Charles S. Sanford, Retired Chairman of the Board and CEO, Bankers Trust New York Corporation and Bankers Trust Company

"The essential concepts of risk set forth in clear language and an engaging manner. Dan Borge demonstrates the use of tools for decision making in uncertainty with intuitive examples and broad application."-Clinton Lively, Managing Director, Corporate Risk Management, Merrill Lynch

"Would you like a systematic way to make decisions whose risky outcomes can damage your well-being? Have you been out of school long enough so that you want the answers and not the theories? The Book of Risk brings the scientific tools of risk management to intelligent investors using Strunk and White's crisp and clear writing style."-Professor Alan C. Hess, School of Business, University of Washington

"Dan Borge's The Book of Risk provides clear insights and tools to help readers make decisions that shift the odds in their favor. The biggest risk is not reading it."-Peter D. Moore, Founder and CEO, Human Capital Forum

"Combining technical integrity with common sense, Dan Borge has taken the arcane topic of risk management and transformed it into a lively, mainstream way of thinking about how we make choices every day-in financial markets, in life sciences, in simply choosing to cross a busy road when we're in a hurry. Quite simply the best introduction to risk management yet written."-John Herron Jr., Former Senior Managing Director and Head of BT Ventures, Bankers Trust Company Consultant, and Managing Partner of Elm Tree, LLC

"Dan Borge builds the concepts of risk management in a very readable and interesting manner. Readers who watch the house being built will be better equipped to manage risks in both their professional and personal life."-Dwight B. Crane, George F. Baker Jr. Professor of Business Administration, Harvard Business School

From the Inside Flap

A down-to-earth look at an exciting field for everyone who'd like to shift the odds in the game of life in their favor, The Book of Risk is especially valuable reading for sophisticated investors, entrepreneurs, finance professionals, and managers throughout all industry sectors. It also contains practical applications for professional risk managers interested in gaining a more thorough understanding of the concepts behind the tools they use every day.

Written by one of the most highly regarded experts in the field, The Book of Risk is an exceptionally clear, thoroughly entertaining introduction to contemporary risk management. Dan Borge illuminates the delicate process of making decisions in an uncertain world from a professional risk manager's point of view. Writing with verve and good humor, he breaks the concepts and applications of risk management down into plain English. He describes the techniques professional risk managers use for determining probabilities and ferreting out personal preferences, and then combines them in a way that helps you to take more effective action, increase your chances of positive outcomes, and recognize and seize further financial opportunities. And, most importantly, Dan Borge shows you where in your life-personal or professional-you already act as a "risk manager" and how to adapt risk management methods for achieving your goals and shaping your destiny.

Face it, life is all about change, and the future is always uncertain. Each one of us, in our own way, expends a considerable portion of his or her mental energies each day sizing up odds, weighing risks and benefits, and attempting to avoid negative outcomes. As Dan Borge explains in his lucid, down-to-earth style, you should read this important book "not to become a risk manager, but to become a better risk manager, since we are all risk managers already."

Edition details

• Publisher: John Wiley & Sons
• Publication date: 2001
• Language: English
• ISBN 10: 0471323780
• ISBN 13: 9780471323785
• Binding: Hardcover
• Edition number: 1
• Number of pages: 256