How does the modern risk manager view the world? What are the limitations of his or her knowledge? Can risk managers learn anything useful from modelling? And can they use studies of the past to plan effectively for catastrophic risks? Aaron Brown probes for answers in an enlightening roundtable discussion with a group of ... click here for more details.

Aaron Brown critiques Getting Off Track: How Government Actions and Interventions Caused, Prolonged and Worsened the Financial Crisis, by Stanford University professor and former Treasury under secretary John Taylor.

Book Review : Broken Bonds

Are risk disclosures buried in the notes of financial statements? Have the value-at-risk (VaR) numbers supplied by the likes of Goldman Sachs, Merrill Lynch, Morgan Stanley, Bank of America, JPMorgan and Citigroup accurately reflected their true risks during the credit crisis? What metrics can we use to form opinions and ... click here for more details.

The global credit crisis has forced the financial risk management community to rethink its methods. Change is definitely on the horizon, and, if we are smart, the revisions will be the result of forwardlooking analysis. Aaron Brown explains the underlying causes of the crisis and predicts the changes that will ... click here for more details.

Viewpoint: It`s Not Math Is mathematical know-how critical to a successful derivatives career? Pablo Triana argues tht "street smarts," industry knowledge and practical experience are far more important success factors than a background in mathematics. Aaron Brown in contrast, contends that math is essential to derivatives professionals with ... click here for more details.

Why do financial crises seem to spread from losses in one market to apparently unrelated markets? This question has been around for 200 years and the answers are deeper and more complex than too many greedy “me-too” speculators piling into the same trades. Aaron Brown explains why understanding financial contagion ... click here for more details.

Every Man A Speculator: A History of Wall Street in American Life

This critique was written by Aaron Brown, a GRR editorial board member and a vice president at Morgan Stanley who spends the majority of his working hours converting risk models and systems to Basel II standards. Brown also interviewed Perry Mehrling, the Columbia University professor who authored Fischer Black. (See ... click here for more details.

Though it is difficult to master, Monte Carlo analysis is an extremely valuable risk management technique. Aaron Brown discusses the origins of Monte Carlo, examines the differences between Monte Carlo and simulation and explains why it is so important for Monte Carlo users to understand its mathematical subtleties.