"Past performance is not a predictor of future results." I still upvoted your comment even though I disagree with the sentiment because I see this a lot when r

"Past performance is not a predictor of future results." I still upvoted your comment even though I disagree with the sentiment because I see this a lot when risk management is considered by many. Unless risk management is your domain expertise, or you've been to lots and lots of different organizations to observe what works and what didn't, it is a very human perspective. Risk management is not performed by saying, "Nothing bad has happened even less, therefore let's keep with the status quo or make it more lax to save money." Reactive risk management based upon the rear-view mirror is a great way to invite extinction-level tail risk into the organization's house. We could play an exciting game of Cognitive Bias Bingo [1] with such a perspective, though. [1] https://en.wikipedia.org/wiki/List_of_cognitive_biases https://en.wikipedia.org/wiki/List_of_cognitive_biases