Risk is not event-driven; it is character-driven
Why does everybody start talking about systemic risk after a crisis has already started? If we define a systemic risk event as something large enough to affect the entire global financial and economic system, then you would think that the best time for investors to be told about these terrible events is before they occur.
(This story appears in the 16 March, 2012 issue of Forbes India. To visit our Archives, click here.)