Quote
"Theres no way to know how good a player you are except by measuring against others."
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Aaron Brown (financial author)Aaron Brown (financial author)
Aaron Brown (financial author)
Aaron C. Brown is an American finance practitioner, well known as an author on risk management and gambling-related issues. He also speaks frequently at professional and academic conferences. He was Chief Risk Manager at AQR Capital Management. He was one of the original developers of value at risk and one of its strongest proponents.
"Theres no way to know how good a player you are except by measuring against others."
"Most people wander through life, carelessly taking whatever risk crosses their paths without compensation, but never consciously accepting extra risk to pick up the money and other good things lying all around them."
"If no one gambled against the grain in good times, there would be no winners to inspire people in the bad times."
"Fortunes made buying and selling securities have underwritten economic revolutions."
"It is not that gambling imitates economic life, but that economic life is largely modeled after gambling.That was the idea of the original thinker John Law, made infamous with his bankruptcy; Aaron Brown, another original thinker, revives it and takes it further."
"The trading characteristics of a security become more important than its underlying economics. The virtual economics began to drive the physical economy rather than the other way around."