Overview

A challenge to the conventional wisdom surrounding financial risk, providing insight into why easy solutions to control the financial system are doomed to fail Finance plays a key role in the prosperity of the modern world--but it also brings grave dangers. We seek to manage those threats with a vast array of sophisticated mathematical tools and techniques of financial risk management. Too often, though, we fail to address the greatest risk--the peril posed by our own behavior. Jon Danielsson argues that critical risk is generated from within, through the interactions of individuals and perpetuated by their beliefs, objectives, abilities, and prejudices. He asserts that the widespread belief that risk originates outside the financial system frustrates our ability to measure and manage it, and the likely consequences of new regulations will help alleviate small-scale risks but, perversely, encourage excessive risk taking. Danielsson uses lessons from past and recent crises to show that diversity is the best way to safeguard our financial system.

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Jon Danielsson is a professor of finance and the director of the Systemic Risk Centre at the London School of Economics. He is the author of Financial Risk Forecasting and Global Financial Systems: Stability and Risk. Bruce Mann is an award-winning voice artist and actor. He was born in the UK and now lives in California. His awards include several AudioFile Earphones Awards, two Audie nominations, and an AudioFile Excellence Award. Bruce began his audiobook career in 2001 with a recording of the classic Red Badge of Courage. His audiobook highlights include Two Crafty Criminals by bestselling author Philip Pullman, Tales of the Peculiar by Ransom Riggs (with Simon Callow) and Equilateral by the award-winning Ken Kalfus. Of all his recordings, his personal favorite is the classic Turn of the Screw by Henry James. Bruce trained at London Academy of Music and Dramatic Art and has also studied with several eminent voice and acting teachers. In addition to his voice-over work, Bruce is also a busy theater and film actor and has appeared in theaters throughout the UK, Europe, and in the USA. He has featured on both British and American television and has appeared in several feature films. He has also directed and produced a variety of audiobooks by authors including George R. R. Martin, Salman Rushdie, Neil Gaiman, Terry Brooks, Tanith Lee, and Janet Evanovich. When not acting, Bruce is a keen musician, and has played Hammond Organ or bass guitar in many rock and blues bands. He is also a published songwriter with numerous credits. Bruce holds three degrees from the University of Cambridge, and more recently received his PhD. He is an experienced and skilled editor and proofreader of academic texts.

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