The Fifth Risk

I am a big fan of Michael Lewis, he is an excellent writer and writes books on really interesting topics (e.g. Flashboys on HFT, The Big Short on the ’08 Financial Crisis, Moneyball on stats and baseball, to name a few). This book is essentially about operational risk. When I first started reading it though I thought it would be more tied to geopolitical risk and the Trump administration, but as  I got more into it, it became clear that it is actually more about operational risk; when things are neglected the “silent risks” that arise. As the book cover says “people don’t notice when stuff goes right. That is the stuff the government does. It manages everything that underpins our lives …[the government steps in] where private investment fears to tread, innovates and creates knowledge, assesses extreme long term risk“. In relation to the Trump administration this book draws from a number of stories where the current administration are neglecting their role to manage this risk. A short quick read, first half was pretty good, second haflf went off on a bit of a tangent which the HyperChange dude also acknowledges in his review (see below).

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