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Cavalcade of Risk #52

Written By: Jason Shafrin - May• 21•08

There was this statistics student who, when driving his car, would always accelerate hard before coming to any junction, whizz straight over it , then slow down again once he’d got over it. One day, he took a passenger, who was understandably unnerved by his driving style, and asked him why he went so fast over junctions. The statistics student replied, “Well, statistically speaking, you are far more likely to have an accident at a junction, so I just make sure that I spend less time there.”

Maybe this isn’t the best way to minimize your risk. Our experts bloggers offer more profound risk advice in the 52nd edition of the Cavalcade of Risk.

Introduction to Risk (Baseball player, Nobel prize winner explain risk)

  • For those interested in baseball, Rich Maltzman uses a baseball analogy to explain how people view risk in the A verse on risk article posted at Scope crêpe.
  • The Cognition and Language Lab summarizes Daniel Kahneman’s Nobel-prize-winning model showing that “loss aversion” can better characterize how individuals react to risk.

Hot Jobs (Chief Risk Officer, Scuba Diver, Astronaut/Exterminator)

Health and Medical (Over-medicated? Over-treated? Over-weight? etc.)

Housing Risk

  • Buying a house is one of the most significant risks an individual takes in their life. Ernesto TIG of InsuranceYak.com warns that a “buyer beware” mentality is likely warranted in his Costner vs Maronda Homes post.

Computer Risk

Personal Finance

  • Is the average investor over- or under-estimating real estate risk in the declining market? Super Saver weighs in with Properly Assessing Risk posted at My Wealth Builder.
  • Mag Herrera of ‘Life. Money. Development’ is a personal finance advisor who actually likes Credit Cards.
  • What is the difference between market risk, inflation risk and management risk? The Blueprint for Financial Prosperity blog explains in their post titled Understanding Investment Risk Types.
  • Investing Angel of Stock Tips explains that the “herd mentality” causes most investors to Buy High And Sell Low.
  • Almost any investment you will make is risk. But in The Top 25 Low Cost US Money Market Funds, Larry Russell of the Skilled Investor Blog extols the virtues of maximizing the return on the component of an investment you can control: the fees.

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7 Comments

  1. hgstern says:

    Awesome job, Jason! I love that little bit at the top…never thought of it that way.

    Thank you for hosting!
     

  2. InsureBlog says:

    Cavalcade of Risk #52 is up and running……

    Jason Shafrin, the Healthcare Economist, hosts this week’s collection of risky posts. Don’t miss the great example of risk mismanagement at the top….

  3. [...] Cavalcade of Risk is up at the Healthcare Economist. Our post about patients in the NHS being able to purchase [...]

  4. [...] out the latest Cavalcade of Risk blog carnival, hosted this time at Healthcare [...]

  5. [...] in Uncategorized at August 10, 2010Jason Shafrin, the Healthcare Economist, hosts this week’s collection of risky posts. Don’t miss the great example of risk mismanagement at the top.There’s very little risk [...]