Practical analysis for investment professionals

Systemic Risk


Sir Paul Tucker: Systemic Risk and Threats to Financial Capitalism

Sir Paul Tucker is not shy about making an audience feel uncomfortable, Mark Harrison, CFA, observes. In fact, the crowd was rather ill at ease during Tucker's presentation at the 70th CFA Institute Annual Conference, and not just because the topic was systemic risk.

Where Markets Fail: Markets Are Not Systemic

Markets are usually not systemic. Instead, from the bird’s-eye perspective of "Capitalism," many businesses are "opportunities" in the same way that it feels good to hit yourself in the head with a hammer: It's much better once you stop.

Systemic Risk: Definition and Application

Even the most cursory study reveals that systemic risk means different things to different people, so Ron Rimkus, CFA, worked to create a definition that potentially everyone could agree on.

Systemic Risk: You’ll Know It When You See It

With so much talk of systemic risk in recent years, there is surprisingly little consensus on what systemic risk actually is. So what is systemic risk? And how big a threat does it pose to markets today?

Robert Engle on Systemic Risk in China and around the World

Nobel laureate Robert Engle discussed systemic risk in China and throughout the globe. His advice for investors? Treat credit risk as an important part of the investment decision-making process.

Shuffling Sideways: What If Markets Are Bound for Chronic Underachievement?

All the recent market scares have been driven by the same implied menace. Whether it’s another round of anxiety about Greece, another head fake by the US Federal Reserve on raising rates, or fears about China’s economy, investors appear to be nervous about a major correction, downturn, or crash. But what if the real danger were of a very different sort?

Risk Is the Dark Matter of Portfolio Management

Is there some dark mysterious force holding the financial universe together? Or will it all come flying apart?

Asset Managers Pose Systemic Risk — It’s Time To Recognize It

Now that the world's largest asset manager manages considerably more money than the world's largest bank, it's time to think about the potential for systemic risk.

Nobel Laureate Robert Engle on VaR, Systemic Risk, and Liquidity

Nobel laureate Robert Engle discusses the development of the ARCH model, the global financial crisis, systemic risk, and forecasting liquidity with ARCH models.

Book Review: Systemic Risk: The Dynamics of Modern Financial Systems

The global financial crisis revealed a critical need for a substantial reassessment of the fundamental workings of financial systems, their interactions with the real economy, and the circumstances that tip such systems from stability to instability. In this book, Prasanna Gai provides a fresh look at these increasingly important fields.



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