Banks face rough risk management ride

The recent turmoil in financial markets has exposed many limitations, from the inability of investors to grasp the full extent of the risks to which they are exposed, to the relative paucity in the English language of synonyms for "panic" and "crisis".

It has also highlighted the structural shortcomings of one basic risk management tool – value at risk – which will have significant economic repercussions for years to come.

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Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a BillionaireExternal link

Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a Billionaire