The Lonely Bull went to school last week; or at least a symposium given by Princeton and the EDHEC Risk Institute from Nice, France. The subject revolved around different approaches to risk management. Academic papers were presented on various aspects of risk and methodologies to handle some of them. It was by its own description; academia meeting practice.
Esoteric academic studies and approaches do not always translate well to real world practice, but there are always insights to be gleaned. There is a lot of science in this art we call wealth management. However, the art can never be totally eliminated. The art is fed by experience and talent; but academics bring discipline and insight too. And it’s always good to confront new approaches.
the Lonely Bull