Real World Risk – Nassim Taleb

They have also advised heads of government, central banks, top institutions (such the IMF) and U.S. government agencies.

Real World Risk – Nassim Taleb

THE MISSION AND THE MINI-CERTIFICATE
IN REAL WORLD RISK TAKING
A few like this were posted on Friday, October 2, 2015.-In New York, like-minded people gathered to form the Real World Risk Institute, LLC.

Download it immediately Real World Risk – Nassim Taleb
The mission statement was summarized by “real world” These words can be used more directly:
Be aware of model errors before you make a model
Talking the talk is not enough. You must also walk the walk
Data Science without the complexity and sophisty
How to perform risk analysis without wasting time
Models can transform from reality to models, not models to reality.
Take risks you understand, don’t try to understand risks you are taking
Risk Education should not be about impressing regulators, but rather developing real skills.-Competence in life
Summary: Our focus is on risk taking (front office), not something called “risk management” (Back office), which should not be separated from the decision-making. Some academo-Bureaucrats who have something to prove are more inclined to make things seem complicated than real-world risk takers. They aren’t ashamed to simplify simple things! Real life requires a lot more rigor than books, and it’s a different kind of rigor. Maximizing clarity of thought is the best way to manage risk.
As of 2019, we have had 500 attendees, more than 20 repeats (one person came back 5 times); a electic composition: about 20 medical doctors, 10 military persons, 3 professional hackers, 11 policy makers, numerous venture capitalists/entrepreneurs, traders, psychologists, bankers, small business owners, social workers, university professors, etc.
More than 200 scholarships have been awarded and we offer financial assistance.
You can follow #RWRI @Twitter.
It is also a way to transform education by bringing it closer to the practitioner model. A subject with real-world implications should not be taught by an academic without practical experience. After six sessions and two years, we decided to hire former attendees as instructors. They have practical experience in the field they are teaching.

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The current team includes:
2 risk takers, former full-Time traders are people who have more than 50 years of combined experience.
2 people have been identified as having an attitude problem
5 Phds in Quant/math, 3 Businessmen, Quants, and Advisors to Hedging Funds
2 UHNWIs (Ultra High Net Worth Individuals).
Four people who are experts in tail events both in theory and in real life-Practice life
Three are probabilists who have a sufficient knowledge of probability to be able to apply it in practice and explain the results with concepts and photos.
They have been able to advise heads of state, central bank governors, top institutions (such the IMF), U.S. government agency heads, and testify before the U.S. Congress.
THE MISSION: HOW TO MAKE DIFFERENT DECISIONS UNDER UNCERTAINTY
The institute’s first goal is to develop the principles and methodology that will make real what we call real.-World rigor is required in decision making.-Reduce risk.
The second objective is to offer executive education programs and issue two certifications.
A certificate of no (minimal)-Minimal risk management in BS.-Certificate Real World Risk Management according to the old apprenticeship model, where experienced professionals teach less-Experienced professionals
Mini is the advanced version of this certificate-Certificate Real World Risk Analytics using more technical approaches. Although we try to avoid math, we will use it when necessary. It will be the first quantitative program to be embedded in the real world. This is a view that we believe is both safe and effective.-Take and take risk-Managing perspective

Download it immediately Real World Risk – Nassim Taleb