Customer Reviews

The Book of Risk

5 star:		(3)
4 star:		(1)
3 star:		(1)
2 star:		(0)
1 star:		(1)

 

 

According to the Preface, Mr. Borge writes to pique [the reader's] interest in Risk Management. The reader to whom the author is writing is a reader without experience in finance. Indeed, in his effort to avoid the depth or rigor of a risk management textbook, Mr. Borge eliminates much of what a finance professional might find interesting in a book about risk management. Business professionals with a background in finance may find themselves hungry for more substance than the book has to offer.

On the other hand, Mr. Borge successfully describes risk management in terms that individuals without experience in finance will understand. Throughout the book the author applies risk management principles to situations encountered in daily living. These simplified examples give the book a sort of 'Who Moved My Cheese' feel, reinforcing my experience that the book might appeal to non-financial types, while leaving financial-types wanting.

This book, without a doubt, offers a very clear explanation of the basic principles of risk management. The book concentrates on financial applications and even has a chapter in which he creates a CEO scenario for the reader where the ideas of risk are put into practice. Borge also shows how the same principles may be applied to personal life from the decison to marry to what type of home insurance tp purchase. Borge comes across as very affable and this helps to make the subject matter 'friendly' also. However, I doubt this book was ever intended for finance professionals - though it might be useful in introductory courses on risk management. I also think those looking for more philosophical approaches to the subject (for instance Peter L. Bernstein or Nassim N Taleb) of risk may be somewhat disappointed. At anay rate this book offers sensible advice that avoids easy solutions. In an ideal world this book would be outselling Who Moved My Cheese?

In a bureaucracy, it's taken for granted that any risk - like any flesh-eating bacteria - is a bad thing. But in a fast-paced environment in which decisions must be made in rapid-fire, risk is not only a constant, it's a primary ingredient to success. So too in your daily life, in which each decision - Do I drive to work or take the train? Do I have a cigarette or use the patch? - ultimately comes down to a weighing of risks versus potential rewards. Dan Borge takes the sophisticated risk-management theories employed by some of the world's smartest companies and boils them down to easy-to-grasp principles that can be used by any business or individual. Some books must be read carefully in order to be appreciated, and this is certainly one of them. Risk management is complex, and despite Borge's skill at getting to the heart of the matter, you'll find yourself mulling over the intricacies of each page of this finely wrought book. We [...] recommend this book to all senior executives, and to any professionals with the potential to join those ranks - provided they make the right decisions.

This book both addresses risk management from
a professional perspective, and from a personal
level. The examples are abundant, instructive
and highly entertaining!

You can't go wrong with this book.

I have known Dan Borge for 28 years and followed his career at Bankers Trust with great interest and admiration. There are very few, if any, people who understand risk and who know how to sell its concepts like Dan Borge.

This book is one of four or five I'll carry with me if my house starts to burn. I recommend ithighly to everyone in a risky business.

Customer service is very good. Was told two weeks ago my book would be delivered in 5 days. I ordered the book 27 Dec as of 28 Jan still no book.