Walden ACCT 6600 Week 8 Discussion

Walden ACCT 6600 Week 8 Discussion

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Walden ACCT 6600 Week 8 Discussion

In Taleb, Goldstein, and Spitznagel's article there are six mistakes that are mentioned and they are as follows:

1. We think we can manage risk by predicting extreme events.

2. We are convinced that studying the past will help us manage risk.

3. We don’t listen to advice about what we shouldn’t do.

4. We assume that risk can be measured by standard deviation.

5. We don’t appreciate that what’s mathematically equivalent isn’t psychologically so.

6. We are taught that efficiency and maximizing shareholder value don’t tolerate redundancy.

“We are convinced that studying the past will help us manage risk.”