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I work in capital markets. I both design and build systems that automatically quote prices to the market and automatically make trading decisions. The financial
by jm__87 6y ago
I work in capital markets. I both design and build systems that automatically quote prices to the market and automatically make trading decisions. The financial consequences of getting either of these things wrong can be quite high, but many of my colleagues (i.e. traders) don't seem to understand the scope of things that could possibly go wrong when you're building software. I have noticed that experienced traders are usually very comfortable with taking some amount of risk (it's their job), but I have also noticed that with some people, that comfort with risk taking can spill over in to other areas where they simply don't have enough background or knowledge to properly assess the risks. So while I think comfort with risk taking is good, it's important to also question your own depth of understanding of the domain you're assessing risk in before dismissing other's concerns.
- cjonas 6y agoThis is also analogous to backcountry skiing/climbing risk management. Many expert climbers have died because they became too comfortable with the risks and make a novice mistake. And "considerable" Avalanche conditions result in far more deaths and "high" or "extreme", because they offer just enough stability to allow skiers to build a false sense of security. My point is just that professionals of these activities have developed frameworks for evaluating risk and I think it's interesting how they might be applied to other disaplines.