Remembering Peter Bernstein
June 11, 2009
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Peter Bernstein recently passed away. He was one of my favorite writers I read all of his books and will miss his wise words. Below is a video clip of Mr. Bernstein.
(H/T to Shai @ Reflections On Value Investing for Finding This)
Introduction (Via Mc Kinsey Quarterly)
Risk doesn’t mean danger—it just means not knowing what the future holds. That insight resides at the core of risk management for companies, whether in managing the potential downside of an investment or putting a value on the option of waiting when making irreversible decisions. In this video Peter L. Bernstein also explains why in the real world the most sophisticated mathematical models can sometimes fail.
