19 Burst results for "risk manager"
China postpones Ant’s colossal IPO after closed-door talk with Jack Ma
"American markets are not, of course, the on ly markets and Chinese investors had been planning something of a celebration this week, the world's biggest initial public offering ever. To be set in Shanghai and Hong Kong, the company going public and I think we mentioned this last week is Ant Financial, a giant in Chinese fintech financial technology. That was the case until this morning. That is Chinese regulators kind of out of nowhere suspended. The I P o not happening at all. Not clear what's going on. But his marketplaces Scott Tongue reports. What we do know is that the Chinese government is still very much in charge of the world's second largest economy. Aunt group is no small insect in the Chinese economy. It's phone APP is used by 700 million people. Martin Short's MPA is with the Peterson Institute for International Economics in China. They don't use credit cards. They link their bank account into this digital wallet, and then they scan barcodes everywhere to pay for things. They can also shop online through it taken by gold and investment products. Get loans get insurance two weeks ago and controlling stake holder Jack Ma blasted Chinese financial regulators for red tape and for not understanding companies like his into many, Jack Ma crossed a line and the government is assumed to have struck back by freezing the AIPO for now. China market analyst Fraser Howie is the author of Red Capitalism. The status pattern made by the party is proud of me. Even though Jack's a member of the party business cannot be devolved from politics in China. Social media in China is now filled with cracks about Aunt's getting crushed in this old movie clip of Jack Ma, playing a kung fu master apologizing to the cops always says The lesson for international investors is beware of the China market in the interference of the state. Imagine, he says, You're like the risk manager at some $100 billion Midwest Pence and fund and last week, someone said, we've got again to China. Look what's happening. You're gonna turn around and say, turn around and say no way. Another cautionary message has to do with Chinese innovation, Martin Zampa says in the US it's normal for a tech CEO to tell Washington bureaucrats to back off. But when Jack Ma says that in China he's put in this place. The pendulum continues to swing towards control and away from the freedom. Which encourages innovation, he says Chinese authorities fear that Aunt group could make borrowing too easy and put the financial system and risk. I'm Scott Tongue for marketplace.
"risk manager" Discussed on Chat With Traders
"Someone has sent in a question here, which I think is quite interesting would love to hear how the firm traded big hot stocks like cardiac how do you manage risk with these massive spikes and stock halts Max Day losses sticking trading rules managing emotion, etc.. A lot of these symbols are just really wild As a traitor, you look forward to these types of symbols you like. Kodak and go from twenty to sixty. In one day you have sti the other day we had the stock. Oh from a dollar forty. And then back to fifteen I think in the same day. How do you manage risk as intraday traders? Just incredible. So as as Traders we love you want the volatility and we can't wait for simple to to move like that. But now when you wearing your risk manager hat on and you're monitoring traders and you want to make sure that nobody blows up you WANNA make sure that everybody's. You know in in a good spot to try to capitalize on it rather than get hurt then it's gotta approach little bit differently One of the takeaway videos we did recently was about P I, and I had to call a meeting. S P I and you mentioned Kodak but it's the same idea SPF. Midday, we call the meeting we all jumping zoom call and ask guys what the F. We doing here. Everybody's trading frontside. Everybody's so convinced that the stock is going down the all the stocks eighteen or fifteen or whatever was and everybody you look at my screen and everybody's shorts and it's like it's a nightmare as a risk manager because like well, how many times does each train going to try this thing? Before they realize. Okay, maybe it's not going down and it really starts to add up. So. On our part is it's really important to to monitor the symbols and to be in touch with the traders throughout the day. Just make sure. Hey, make sure you we waiting for your setup. Don't just be emotionally because you know it's going down. Make sure you have a reason to be in preferably wait for the backside because once the backside is in it. That's going to be easier, but then you look at us. And distinct kept halting left and right went from twenty to thirty to forty and end from forty. I think it opened down twenty five. it was just incredible it's very hard to manage risk Delhi so. A lot of traitors just end up leaving it alone. Insane. I'm I'm GonNa wait I'm going to wait for this thing I don't care if it goes from forty to twenty five without me. But maybe. It goes to twenty-five. It gives me a trade where I can try to make five ten fifteen dollars under way down. So it's really hard. How do we manage it position sizing? Just. Constantly being in touch with the traders making sure that they're third straight emotionally, not just in and out for the sake of being in an. Really, wait for for the best setups in it because if you if you're. If you run out of AMMO. then. You're not going to be able to hit it opportunity looks great. But if you're out of AMMO A lot of times, you're not gonna be able to hit it again. So It's important to to size down and we. have no interest in trading those days in those symbols because it's just too difficult. So when you have these like extrordinary situations like this. Do you increase the amount of risk that you're giving yourself on that day a little bit more flexible in that regard or is it still just the same as any other day? So each trader has a lockout and we call that a speed bump. once hit a certain Max loss they. LOCKED OUT OF TRADING At that point they have to chat with your manager or with me or with my? and. Explain why they WANNA be unlocked right so if if it seems that the traders Is. Not. untilt. Seems like the trailer is. Just. Hate a few bad trades happens sometimes get streak of trays a homework. There's still opportunity there trade thinking clearly than we give them an locking and he can keep going to get some more risk But if we see that it's the trader is not. Put on. The best till now is trading emotionally is afraid of missing out on the trade constantly just kidding back in after closing trade. These are things that we don't like, and they probably won't get locked day now to come back another day. I think this question Tarzan.
"risk manager" Discussed on Bloomberg Radio New York
"He is a bull market becomes former also former risk manager a Q. R. capital management Erin thanks so much for joining us I guess where we are in the discussion of the corona virus is has it peaked in China number one and number two how much will it spread outside of China what are some of the latest scenarios that you're thinking about well I don't know the answer to your questions and and and they are important questions but for a long term investor the immediate market impact all the things we're seeing now all the impact on first quarter earnings in first quarter GDP those are all about the containment efforts not about the virus itself and so you know we're seeing airline stocks fall we're seeing supply chains disrupted and such this is not a big deal this is temporary the containment efforts won't last forever and the spending lost during the containment efforts will rebound and actually disasters of all sorts you know means increased spending so the one scenario really worried about their disaster scenario the pandemic of nineteen eighteen flu kind of scenario is still very unlikely but if it happens it will have a dramatic effect on interest on human life but I'm I'm the attorney but the pattern is different it's not you know the investment you might want to avoid if you thought that was going to happen or not the ones that are being shipped today serving investors who are focused very much on the short term you know first quarter effects on earnings and GDP are are missing what the really big bet here is we don't know at this point what the chances of a mass scenario you know it it picnic kills tens or hundreds of millions of people but it's pretty unlikely I mean I have to say it you know probably one in a thousand we're talking about something on that order although nobody really knows the two most likely scenarios are we get a containing in which case it's a kind of none of that but maybe not for the thousands of people who died but but for the economy as a whole or that it becomes endemic you know there for coronaviruses endemic to the world already because about twenty five percent of colds you know when new way and might not make much difference it might have to be a minor increase in the amount and severity of colds or or perhaps not even that so if it gets out of continuance early disaster the disaster is if it gets out of containment it becomes a pandemic to the world and it maintains a high mortality rate but that's as I say it's very unlikely scenario that said there is a question of how much growth there could possibly be in a world economy that slowing down given the fact that people are canceling their travel plans and that there's a lot of services related business that won't be compensated for how do you sort of counter that argument and say longer term even that won't have that big of an impact well I live on the Upper West Side and we're we're really progressive area where if anybody said you know she should avoid Chinese people because of the virus they would hang up on a lamp post but the Chinese restaurants are empty and the Chinese delivery services are offering steep discounts for anybody who's a we get the food but that doesn't mean people are going to eat less over their lifetime right it doesn't mean people are not going to go to other restaurants or orders you know spend the money on something else the people who are canceling cruises today or maybe not going buy tickets for the Tokyo Olympics other marketing change your total lifetime travel budgets as a result they're going to spend the money on something else so for the long term diversified investor's standpoint this is kind of about about you expect the US government to enact any specific policy here should the corona virus in become more pronounced in the U. S. you know I don't see what they can to be Frank you know you're seeing the CDC advice come out in the CDC advises the same advice to give you every clue season right wash your hands you know go to a doctor if you have a high fever and respiratory problems and so on if it becomes endemic that no it's just part of the normal you know winter flu season or winter cold season actually because of the corona virus and if it's a major pandemic of the sort where we've got hundreds of millions of people dying in the world there's also not much we can do you know we don't have enough antiviral drugs or respirators to treat the majority of the people women for the virus will be what it's going to do you know there's there could you can do some public health things but you know not very much most of this depends on the virus Erin I just real quick here thirty seconds says the former chief risk manager at a Q. R. capital management would you be buying into this into this route I'm a long term investor I have not changed any allocation as a result of that so I'm just staying put at this point if we see that it may become a global pandemic you know this kind of the eight nineteen eighteen flu variety then yes then it's time to make an allocation changes but I'm much more concerned about my health about my portfolio all right first of all to Aaron Aaron brown columnist at Bloomberg opinion also a former chief risk manager a Q. R. capital management joining us fantastic column he wrote for Bloomberg opinion I highly recommend people read about three virus scenarios that markets have to consider the first being that it's nothing and it's contained to the second page that is becomes endemic although it's not that fatal and the third that it is a catastrophic pandemic in talking about how all in all it the most likely scenario is it won't have as big of an impact in the longer term on investments that said we certainly are seeing the panic sort of take cold a little bit more today as we see a particular bond yields just falling dramatically not only that but also the correction in the S. and P. and the nasdaq right now let's head over to our ninety day one studios in Washington DC Amy Morris world national headlines email all right thank you Lisa Joe Biden winning the endorsement of South Carolina representative Jim Clyburn the highest ranking black member of Congress and house majority whip Clyburn's backing could provide a much needed boost for Biden before south Carolina's primary on Saturday by the notes Cliburn's role in securing the democratic votes for the twenty ten health insurance overhaul that ranks as president Obama's signature domestic achievement America's roads are growing deadlier.
"risk manager" Discussed on Insureblocks
"And governance governance for dot partners our guidance and that's what I find interesting in the paper is both practical and specific in addressing deity applicability the dot feasability aspects governance aspects security not as well as their important profitability of course an engine look from your perspective you know what are some of your personal opinions on some of the key findings. Su I in in addition on what Sebastian say hi. Ho just add to that Babe APEC also exemplifies this -nificant solve race management that don't really stage technology driven business innovation okay the I mean. The whole debate has been going on for quite a few years and do you believe that the role risk managers have has been sufficiently engaged within that debate or have they not been engaged sufficiently while this is a good question during the workshops helps of our working group we have of course debated. Ah such wisdom macho technology even innovation in at its exploratory exploratory phase it is handle within. It business functions obviously through these paper out have deformities sharing towards for is managed Jessica dubroff actively participate and shape the future of Deity in insurance as soon as innovation most from exploratory into the deployment face and let me let me add to general come that by tools we refer in the paper for example to a risk catalog and good practices that are explicitly shared with the community for example the appendix of this year. Oh form paper one of the aims of the working group here through our work to establish a sound and join shared language for deal guilty risks and we share good practice approaches to mitigate such risks with all toolkit and we hope therefore to engage gauge risk managers addressing strategy the aspects of governance and compliance aspects of it and operations as well as the very specific and technical nature of dot topics great. Let's dive straight into some of the key points of this publication location. What role did you see. Cro's have in deonte applications and also at what stage well did centralized centralized of dot and its applications.
"risk manager" Discussed on Insureblocks
"Gianluca de mind to spending a minute just explaining to us on very high level. You know what is solvency to regulation solvency absolutely solvency deregulation is a framework and the new framework on capital requirements NSA that came into force beginning thousand sixteen at regulation that tried to create Levin Blaine field in the calculation of capital requirement ending produced a risk-based regime for Darkwa meant calculation so did On for Insurance Company that have to follow Fukuda fool collision of capital requirements and Halo Company to use a standard Broacha that is the same for each company did they dishonor formula otherwise companies are allowed to implementer to obtain approval by over an internal model internal Motorola if if framework based not only on Monta Monica Lynne statistical models but also on on governor answer on route supposedly sees etcetera etcetera aw that's a low companies to implement their own ah more della to better obtain a better presentation of the risk profile silence of the company's great thank you for that so the Cro Forum and recently published a White Paper Entitled Insurance and Distributed Ledger Technology from a risk management perspective so why is it that you guys produce this white paper and what was the objective of it yeah so hyper has surrounded his beauty alleged technology and especially blockchain over the last few years so since the birth of the BITCOIN CRYPTOCURRENCY AC- high in criticism to have been fueled by Irvine Bijon says Wella misconceptions these technologies have not yet the Lebron promises but several experts believed that dod as potential can transform the financial services sector so zeros are what position to play a critical role and threatened the innovation initiatives deceitful forum paper is meant as a practical tool for managing and the component of a productive phase of D. A. D. or of additional risk management free more remain the leader specific issues to consider when assessing assessing the risk of DOT BAYS application keep it by findings address the early stage of Deity based solution when adopted without some of these Asian face uncertainty as sweat as strategic risks of course of course so it's about him in your personal opinion what key findings findings of this report did you find interesting. Yeah I think personally I believe that the paper first of all captures today's status quo well for the insurance markets. US offer every salon just deal more importantly I think.
"risk manager" Discussed on Sports Gambling Radio - By BangTheBook
"Things to talk about here. Today and let's go ahead and start by explaining what you do as a head risk manager down there. I'm sure a lot. The people want to get a perspective from the other side of the counter and we'll be doing that throughout the season here looking at sharp action for college on the n._f._l. Looking at the movement of lions stuff stuff like that. What what do you do down there at d._s. Eyebrows and really like i mean we used to call things like bookmakers and stuff like that which is really kind of gives the impression of you're you're just taking care of books but the reality is that what we do now is managing risk for the company. <hes> you do that both on a game by game basis in terms of looking at your exposure <hes> how how much money is on one side versus another. We also do that on risk manager on a player level as well. You want to be able to identify your sharper customers as quickly as possible. Use the those guys tear advantages well and book off with them is hoping that we do there are other books out there who will simply try imbalance the books in terms of having as as much money waited on side a as you have on side b and they moved numbers regardless of of risk of a number falling to do that whereas we kind of kind of like let the sharps ghitis lightest and try and take a stand in terms. Okay the sharps go in this way the public school and the other way i think long term the sharp is gonna win and we're going to hold a position not be exposed to much now again. That all comes comes down to numbers. Come into play when you're talking football and stuff like that the most key numbers being three and seven so you maybe wouldn't be so shot to move off a number like from say four and a half to five or the five and a half and stuff like that but we definitely would-be shied number three where you're just kind of comes in wall so you know no. It's a decision making process that we have on a on a game by game basis and it goes real fast. You're you're taking a look at who bet the money you know whether it was a sharp sharp guy <hes> guy you haven't figured out yet you also have to look at the market and where the market is right now where the market seems to be going you kind of want to read the tea leaves a bit and it's also you know a dollar value how much guy i bet and how sharp now you may have a real sharp guy who tries to fly under the radar and bet small say like like a nickel on a football game where he got guys a little bit up to five times on a football game and not be sharp so you gotta take all those things into account and it's really i mean it's just changes every single day you come up with different things which is kinda why i love this industry well and something i want to focus on a little bit here you know the term risk manager in and of itself has a different connotation depending on the sports book that you're looking at because as some places aren't willing to take a whole lot of risk..
"risk manager" Discussed on WNYC 93.9 FM
"Risk manager for London for the UK's environment agency. And can you also penned a report into how London can respond to rising sea levels and pundits too high. Come we respond? We have a space to poach where we would have to build fist increased walls and the Ristori. We will they need to think about increasing the wool Hudson the inside. So the London and then finally will need to think about a replacement barrier. We know that will be around twenty seventy basin currency number is, but obviously things accelerate it'll need at the same time. We working with all the local government long this fish to think about what riverside needs to look like in the future. Do we want the banks that are just wolves? So you say the only barrier is further away from the river. So there is that might occasionally flood otherwise can be useful. Yeah. So this is one in the outer issue, for example, we all thinking about retreating some areas because there's not the people not the Cup. So some places you'll retreat other places defend how confident that you can defend London over the next two centuries. Very confident we could defend them over the next century of the next to center the long time. Commit to say that. But we particularly in the one thousand years what would happen if we didn't do anything that that picks drop of time for the region issue. Here's because Siegel rises, you build it up. If it does it's going to be even more catastrophic flood, isn't it? This does beach will pass by but sets why the reliability of the barrier in particular is so important, and that's why we've been so much money. That's why Steve's tasting today. So we have certainty that when we need to close it. It does. Thank you, Mr. cut. And that's where we'll be ending the program, but business stadi- will continue to report climate change of what we can to to tackle it. So keep on. Now on the BBC World Service witness history with me for HANA high. And today, we go back to nineteen Seventy-nine when one of the great engineering feats of the twentieth century.
Is there enough investment in clean energy?
"Mindy, big investors, like Morgan Stanley Bank of America are investing big and climate solutions. Why is private equity pushing climate change solutions on the market sprawling? There's no question the climate is changing, and we hear companies investors consumer scientists saying that and we know we need to act. So if we need to bring down our reliance on fossil fuels on coal and dirty oil. We need to go somewhere and that somewhere around renewable energy. And that's why you're seeing whether it's private equity Republic equity or large institutional investors were saying far more money flow into renewable energy and cleaner buildings cleaner transportation, and it's adding up last year there was somewhere around three hundred and fifty. Thirty billion dollars put into a clean energy future. That's a global number next year, it'll be substantially more. We're seeing it because there's a market for it. People want it. They're demanding it they're calling for it. And we need to be able to get them to clean energy. They'd like to see Mindy. We talk about climate risk here on climate. How're big company seeing that climate risk show up in their supply chains and even their bottom lines companies and small companies alike across every sector of our economy seeing that climate risk show up, and let's give a couple of examples if you're a farmer or you're an agriculture and the climate changes for better or for worse. Sometimes there's more rain sometimes it's too dry in either case we've seen agricultural crops die we've seen farmers able to farm half their land. We've seen farmworkers put out of work. We've seen restaurants not have the food. They need or groceries. If you're in the apparel business, you're the gap your Levi stressed your banal. China Republic or anyone of our global retailers. When you're cotton crop is because there's not enough water in the places where you've had that planted. You lose substantial resources in revenue if you're in the insurance sector last fall when we had three three storms looking at Houston looking at Puerto Rico and looking at the keys in Florida. The numbers were over one hundred billion dollars in losses. We are not talking about small losses. We're talking about huge impacts on real estate on agriculture on insurance on finance in every sector of our economy. Climate risk is a real financial risk not only scientific imperative but the risk to the bottom line of thousands of companies is growing everyday Mindy. I'm encouraged to see the scale of investment in climate solutions. But looking at the atmosphere how much faster does it need to happen to mitigate atmospheric impacts on business. In the future. Like, paul. You're asking exactly the right question. It is a huge number that we've seen three hundred fifty billion dollars investing in clean energy. And it is not nearly enough. The problem is growing faster. We are being told by the world's leading scientists that we have to see radical change in twelve years that's going to require a lot more than three hundred and fifty billion dollars. We are going to need to see. Well, over a trillion dollars a year invested in clean energy, clean transportation future. And those investments are in only here in the United States. We need to see massive amounts of capital going to the developing world, we need to see massive changes in China. And India if we are to get to that below two degree world or a one point five world degree world is leading scientists tell us we must our investments need to triple quadruple on an annual basis. So I'm curious about the corporate boardroom corporate, see something. Are essentially risk managers. How has climate risk worked its way into the boardroom, and how much is that changed over the last ten to fifteen years. Well, the change over the last fifteen years is nothing short of radical fifteen years ago the term climate risk barely existed. When we first convened hundreds of investors from around the globe, institutional investors, large pension funds as well as money managers from Goldman Sachs to chase P Morgan Morgan Stanley Bank of America city. And so on they want to know why we were asking them to come into a room. Frankly, then we did it at the United Nations to talk about climate change. They believe that was an environmental issue that had nothing to do with economy. That's of course, changed fifteen years from now, we know this is a colossal excess essential threat, not only to the future of our kids and our planet. But to our economic well-being, we are being told by leading a communist that the impact of climate is. Stanchly greater than the impact we felt from the subprime meltdown. So we're talking about massive economic impacts over the last fifteen years radical change what it companies doing many of them are setting goals to bring their greenhouse gas. Emissions down were committing to a one hundred percent renewable energy in the next five years and more and more of that is happening but still not nearly enough or last week at the international climate negotiations in Poland four hundred and twenty of our investors whose assets total thirty four trillion dollars called on government leaders at that international negotiation to implement a plan that's clear that has focused and that's consistent with the goals of the Paris agreement. So not only companies changing, but their largest owners the biggest investors in those companies are saying we want you to act on climate. And we want you to change your practices all the way through to your supply chain. Sooner rather than later, and you asked about corporate boards, corporate boards are acting. I was in Naples, Florida. A couple of weeks ago with the national association of corporate directors talking with hundreds of corporate directors around that why these issues why climate change is a governance issue for corporate board members why they need to examine the risk of climate change. Some are some aren't but the bottom line is five years ago. Very few if anywhere now that number is growing, I think we are seeing real change in corporate America and at the investor level, but not
"risk manager" Discussed on Bang the Book
"You know, have a couple before the show get yourself all jolly and happy, and we can go ahead and get into everything that we're going to talk about. But speaking of that gotta listener question to start things off for you here today this one from major wager on Twitter asking can you ask rent? Why books move their lines with the Mark? Even when they aren't the ones taking money, why not have faith in your line. So what would you say, right? Yeah. I mean, it all depends. Right. It's it's kind of a difficult question to ask, you know, on the surface in that, you don't know whether you got better, you know, the book in question got better not now, they might be holding a number because they're, you know, they're they're charters balance at that point in time. And then someone else starts moving like, okay. We got that that we're gonna move as well. So you kind of sitting there running on your own action. He kind of maybe sometimes don't want to be the first one to go up right in terms of the everyone's sitting at seven, and you got bet by a sharp that you want to go to seven and a half yet or you want to wait and see what the rest of the market goes. Yeah. The the biggest reason is if you look at the the question better question is what moves the market what moves numbers, and it's either information, whether injuries etc or sharp money. So if he didn't take a bet, but you see the board popping up all across, you know, moving one direction the same direction. You may not. Have got bet in your own sharp the in your own shop, but he can British be pretty sure that sharp money is what moved that. So yes, sometimes you moving on air base on, you know, the the books that move I and the other time to go look at on on you know, game day on Saturdays. And Sundays, I think you'll find that there's a lot more discrepancy in terms of you know, five and a half and four and a half out there in the market where a book is gonna move and no one else falls them because they didn't get bet. So earlier on during the week. You definitely want to move more simply because you don't know what's moving the market. And now if one book goes, it's not like everyone goes, but when you see, you know, three four five books go across the market, and you're already long to that size. You're definitely going going to you know, move with them. If your balanced you're probably gonna move with with them as well. Well, and again, I mean, it's right in your job title, the era risk manager your job is to manage risk. So if there's another book out there that seven it's hard for you to sit seven and a half because you've put yourself at risk, especially if it's later in the week to get that big sharp bet on seven and a half because if there's one out there, and it's been a game that has some interest or it's just somebody wants to grab it number. They're going to do it. So, you know, there's really not a whole lot of value in sitting there with your nose open because again your job is to manage risk. You don't have to take an unnecessary risk by sitting there at seven and a half if the rest of the market is at seven. Yeah. And also, you just don't know where the numbers going to end up as well. So it's like why you know unless you have a good feeling worthy. Number is going to end up which is really difficult to do because you know, like I said that the markets generally dictated by sharp money. So you're not going to sit there and hold the position just thinking..
"risk manager" Discussed on Behind the Bets
"Real reason to kind of hang around in the sports book your is gonna have some baseball fans obviously it's not that far from philly from dc from baltimore but you're talking really the hard core sports bettors who are like i want to go to delaware on the first day to place a bet on the orioles tuesday night it's probably smart to do it that way i i don't think we would say that they any less significant because there were a line of betters there were couple of things that i was surprised that they said there's no limits here but thousand dollars more than a bed of more than two thousand dollars on any side would basically trigger a not to a risk manager at william hill all three casinos william hill or operator and then they would need to approve that i don't know i mean i get the idea of unsophisticated gamblers and it's not exactly vegas but a thousand dollars seems like that's a lot of work and i thought the number would be closer to five thousand well the protocol i know for a player's card usage is i think a grand sometimes too depending on the sporting event in vegas now that's just not for approval the bet but just to make the bet like is they're trying to track things and obviously they want everything to go electrically right in vegas in now with that timeline is i think it just depends on things but i that is interesting that they have to approve the bed it's one thing that you have to have a player's card and you can bet as up to five k.
"risk manager" Discussed on WCPT 820
"Me so i think there are ways that we can address the fiscal issues and frankly the tax burden that is crushing middle income and lower income folks and driving them out of our city all right now if you're going to address that burden what are the other sources of revenue that you would raise as the mayor so that wouldn't be so much emphasis in regressive taxation but i think before we can even get to the revenue question ben we've got to make sure that we really understand the magnitude of the challenge there's been so little transparency on what the true number looks like there has been literally no effort made to reduce the tax burden by reducing the spend that's necessary to run city government for example the inspector general of for the city records ended i think almost a year ago that the city higher and empower a new risk manager well i can't think of any multiple tens of billion dollar entity like the city of chicago that doesn't have a whole unit or team of people that's focused on identifying risk and mitigating that risk and yet we have nothing like that in the city of chicago so we see screaming headline after screaming headline and you talk about them a lot in this radio program in in your columns about how much money we are squandering and wasting that's real money when you look at it from whether it's a police department of the red light cameras or other ways in which we are squandering tax dollars that adds up it's not going to solve every problem but i'm determined i'm going to have a conversation about revenue raising taxes on folks until we can demonstrate that we've got our fiscal house in order they'll running out of time but i have to ask you this today's suntimes another headline about mayor roms handling the public education the chicago public schools.
"risk manager" Discussed on Chat With Traders
"Is considered somewhat of a legendary try to hair and ustralia more details about the same i k plays welcome my buddy mike agni yes so that's that's about it man you know just trying to keep that all straight and trying to not let it affect too much of your thinking and you know that's about it cocoa will i'm glad to be chatting with you again i may know if they managed to catch up with you in general so i guess you know we can we can kill two birds with one stone while i'm doing another podcast yeah awesome let's let's just sort of hit the record button and get going we'll probably guy for about fifty minutes so sorry okay and then i've actually got to hit off to work which feels kinda strange to say oh yes so you're doing the you're trading and doing this as well right you're still doing their your risk manager somewhere right yeah so actual tato is try to manage so yet that involves risk and a whole bunch of other things but yeah essentially as a title sounds managing a group of trade is a at a firm and sydney hair so now living in sydney yeah oh nice how's your weather hundred weather down there right now it's raw it's wrought a main with stu i think was sort of on the way out of summa but you know it's nice went to the beach on the weekend we live really close to the beach now and you know it was sunny spoilt for choice with betas all up the coast from where i am in sydney yet knots it's good.
"risk manager" Discussed on BizTalk Radio
"Risk um a big emphasis in the alternative rift space is longterm cost containment longterm risk management strategies and after about eight years on the pnc side i took a look at uh where i wanted to go careerwise and decided that i wanted to branch out and uh be exposed to it and get a knowledgebased really hopefully expertise into the health insurance face and so i transition to stop loss and stoploss is a coverage that large employers purchase when their self insured whether uh selfish or their health insurance and they want to buy catastrophic insurance protection a transition to the stoploss world which first started actually as a uh property and casualty coverage so a lot of similarities and that happened in two thousand into two thousand three tender those transitioning i noticed that the wellness initiative risk manager was really just starting to come about um and so i was able to apply a lot of the risk management lost control but safety measures strategies from the pnc side and then apply it to health insurance as well this is starting to come out of population helped management and they're starting to get really are a wise don't were determined didn't and uh and and results so kevin on i've been good friends and colleagues we work together previously in the past and she had a successful worker's compensation grew captive management firm and it's i'm going through we're talking about all the evolution of his business evolution of workers compensation captive structures in the groupdynamic i'm talking about the explosion of wellness uh of self insurance and how is there's just as such as divide and health insurance world between the haves and havenots large employers that i've data consult i'm sure versus small employers that don't have data and earn underpin a reactionary mode when we started to look at ways that we could combine forces combined these these two different uh practices and and really phenomenon so we came together first in two thousand and seven uh to create an employee benefit group captive product and division for a fortune 400 insurance company um and then we uh we branched out informed parado in two thousand eleven uh and and wanted to do it as an independent firm being able to give greater flexibility greater services.
"risk manager" Discussed on Chat With Traders
"There you have this key moment lien you have to look at this person and you really have to help rural at and and they have to make the decision no could just a or not rice veto the trade elmadi lunch but you're not really i'll put it in your album was as one decision may be but you're not not learning anything you got a really need them to the right decision asked the right questions of themselves an answer for themselves y'all of why they're doing the right thing and a lot of the coaching you knew his risk manager is these kind of stressful situations another one that you know probably happier when but what happened alatas somebody's dozens traders neyts returned as much money as you ever ought but it still looks like it's got some juice locked in you know a part of an wants disasters law approach will be really happy with his trade even if i'd never make of eddie on it uh but you know you can't walk away from those extra profits because sometimes the opposite happens in you got a muddy in the bank that they promote these are the kinds of situations where you really like to talk is of these experienced trader and his thought it through an knows what question you should be asking and can lucky you in the icee no what you telling me is not what your acting on can you give us an example of a couple questions that tried his should be asking themselves or you know if they have access to summon more experienced about risk like some questions that tried his maybe often ignore don't even think about or just plein simply don ask themselves well i guess the first one and this is almost the definition of a true a lot of people come up to you may say going i think you know golden gotta go up in price sir i think stocks are overvalued.
"risk manager" Discussed on Chat With Traders
"Chat with tried his episode one hundred and fifty is brought to you by the awardwinning online broker trade station tried station clients have direct access to stocks ats futures and options using one integrated trading platform which has many professional grade features to help you better analyze and tried markets learn more about trade station their friendly pricing structure and open an account at tried station dot com slash tried is market speculation and risk this is the chat with traders podcast hosted by aaron fifield haitain what is up welcome to episode one hundred and fifty this is pot two of my interview with aaron brown and i dare say this might be better than the first if you happen to miss pot one that's like it's not like this episode wind makes sense you'll be able to follow along just justfallen and if you would like to hear pot one still you can go to chat with tried his dot com slash one four nine and the charlotte smith this episode can be found at chat with tried his dot com slash one five zero are now just to refresh your memory arron brown is a very we'll respected risk manager he's worked in the field of risk management for approximately 30 years and notably for the past decade aaron was the risk manager of iq are i two hundred billion dollar corned fund succumbing up on this episode pottery you gangs and deepen sought to how you can better understand and manage risk for yourself we go over questions traders should be asking themselves how to leave a less money on the table high win right verse low when rights strategies black swans killing opportunity while trying to how to prevent disaster and that's certainly not oh i must say a truly enjoy this conversation i think this so much she can take away from it and are also locked how erin pushed back on a couple of my questions which i guess somewhat miss the point sorry it was good of him to redirect the lawn of conversation to focus on more appropriate wise of a take your lighting risk anyway let's get on with a shower now harry's part two of a lesson in risktaking with erin.
"risk manager" Discussed on Chat With Traders
"Those are more like legal speed as it's like okay here's the levitt don't even think about asking to go over it and we don't mind if you come under ab no insist that use it up is just use of the rule of law and applies for wise so so it's not clear who has the right to use it got to have a whole group of the bulk at arguing about who gets to ease with our events um and to my the way i would say that i think that has respect i would call that you know budgeting i recall that corporate control human resource management whatever you want to call it does not done with any kind of sense of trading no trader of redesigned that enough makes sense to any traders just cut of a rule gas you must i can't now i just want to ask you this question the smart david as silly question you might laugh at it batum bane of risk manager this is something i think you've had that rao for ran about as it thirty years and why it's a it's a long wall a cafe yep yep has this changed the y you do like normal diet did i things like crossing the road i get in your car and driving some where liked d just unintentional the think about things much differently than i guess the regular person does well i think i was kind of inclined to think this way anyway so proably affected me less that other people but maybe this all be a good example i just this weekend on saturday i was a judge at a university chicago the boost business school has his competition among students and it's like a a roleplaying scenario where the seeds are given the business situation the at the react.
"risk manager" Discussed on Chat With Traders
"Okay well i guess i moved from traders were folio manager than actually moved ahead of morgan securities and alan a not really drained got traders working for me and running it apartment and then eighty hanbo's so 87 i said i am going to go back to school so i am i'm tj took a findings a professorship and studying things are looking to trading on my on on the side but i thought mud old on the not nuts war now that moi's size and i'm trying to figure out answers us and then i go take a job with jp morgan our working with a group eventually came up with this metrics uh and now that i from that point on my career resolves management so instead of trading i work done trading nests i worked for big of will bags or eventually a quantitative hedge fund helping other people manage rescue our managing the risk of the organization right now this position on this raw what if you wanna call it as a risk manager i think there's probably some paypal especially maybe tried his who knew it at this point not really understand what that role in sorry can you just break it down frost and explain what does i risk manage it do on as i said iif isis luck if we look at a typical die what goes on and while it is easier to let's let's start back so we're we're first doing it in the early 90s and just invented it we were all front office which manages that means were sitting on the desk so he got you know twenty thirty traders unaddressed we got a couple desk heads we got the business unit had had a fixed income an equities whatever and it or cut a sitting there and and and probably only one of us in those days we are watching keeping an eye on the traders were talking about the trades with them were setting up a structure of limits you know he allowed to do why our proving or or not approving trades were spending a lot of time you're talking with a desk at about the overall risk of the best in the business unit add the overall with that with individual traders are doing but how it anna edwards up to an overall risk.
"risk manager" Discussed on Chat With Traders
"In some is it all my slyke nodded wanda that you ended up pursuing the topic create you did you know as a risk manager at a quant fund market you always been very quantitative and how you plight these games but i tell you earn m i i was always been memory quantitative i was not naturally good at the other half of the season and that came from playing focus on the quantitative guy i would him perfectly happy that i had discovered sports betting series work but before it is governed poker a probably never would have play poker and i never would really learned the other half of risks but in poker sought first you just play quantitative but right now the number you know the bob dole he's and by the way it back moses urinal poker theory books not that any of these guys could read any way by low levels udus collected money just by probability but as you get higher and higher minister it some of us were the country you realize there's a whole other love we got again and it's all done by your unconscious burton directors nothing calculated you got feel it and you got a train your unconscious brain by poker you know it's really as a powerful computer up there i'm going to say you're you're you're unconscious brain of more power over the most powerful computer malcolm jurors have trouble telling dogs from gas with still pictures and a right maybe ninety percent of the time you know you grade chase a constant visual field near extracts all kinds of things from it including once again and what's the dog and they'll be taught him how to do it.
"risk manager" Discussed on Chat With Traders
"Chat with tried his episode one hundred and fortynine is brought to you by tried station if uruquay access to stocks atf s features and or options if uruquay low cost commissions to cape trading costs down our the one cent per share or a fivedollar flat right if you require a truly professional gripe platform to analyse and tried markets then you best visit tried station dot com slash tried its that's tried station dot com slash tried is to learn more and open an account market speculation and risk this is the chat with traders podcast hosted by aaron fifield what's going on ladies and gents thank you for being here now it's a real on how to introduce a very special guest on this episode of chat with tried is i would lucky to mate arun brown aren't is highly regarded as an authority on the subject of risk management with our he originally started out as a park apply and sports better than a trader and lighter apple the manager for the past 30 years arron spain i dedicated risk manager and for the past tang is he was the risk manager at iq off for icy dino iq is i two hundred billion dollar quant hedge fund now the step aside with iron comes in two pots i can promise you this wasn't planned it was completely unintentional but we rached sumaye close to a bat sixty minutes and i still had so many things i wanted to ask him about bike i hadn't even got halfway through my noughts so thankfully arun at great to continue at a scottish and the following die and that's the second pot which will be relased one week after the release of this episode said wednesday the eight th of november.