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May 03, 2011

PRMIA INAUGURAL SYMPOSIUM

"FORGET OLD PARADIGMS !" CHAIRMAN OF THE TURKISH CAPITAL MARKETS BOARD VEDAT AKGIRAY EMPHASIZES.

"AND THERE IS NO CHALK-UP-ONE-FOR EXPERIENCE EITHER."

DATELINE MONDAY, 02 MAY 2011 - ISTANBUL STOCK EXCHANGE.

IN AN INAUGURAL SPEECH, ATTENDED BY OVER 150 INVITED GUESTS, MARKING THE ESTABLISHMENT OF THE PRMIA TURKEY CHAPTER IN ISTANBUL, THE CHAIRMAN OF THE TURKISH CAPITAL MARKETS BOARD MADE A BOLD STATEMENT OF CAVEAT ABOUT RISK MANAGEMENT.

HE STATED THAT ONE MAY COVER ALL THE CONCEIVABLE RISKS OF GETTING A GROUP OF YOUNG LADIES FROM THE SHORE OF A ROARING CURRENT INFESTED WITH CROCODILES TO THE OTHER SHORE AND SUCCEED, ONLY TO FIND THAT THE OTHER SHORE HAS JUST WELCOMED FIVE HUNGRY LIONS.

THUS, EXPECT THE UNEXPECTABLE.

HE DECLARED THAT THE FANCY ALGORITHMS PREVIOUSLY DEVELOPED AND EMPLOYED BY RISK PRACTITIONERS MEAN LITTLE IN A NEW WORLD WHERE THE BELL CURVE SIGNIFYING THE HOLY NORMAL DISTRIBUTION OF RISK HAS STRETCHED OUT INTO ITS EXTREMES AND FLATTENED CONSIDERABLY, AND THAT ITS MEAN POINT DANCES AROUND IN MID-GAME, WITH NEW STANDARD DEVIATIONS.

THE GOAL POST JUST GOT REMOVED IN MID-GAME.

A BRAND NEW AND UNPREDICTABLE WORLD WELCOMED THE NEWLY FORMED PRMIA TURKEY .

EVERYBODY WISHED LUCK AND ALL STATE INSTITUTIONS EXPRESSED SUPPORT AND SOLIDARITY WITH THE NEW CHAPTER. AFTER ALL, WELL-TRAINED RISK MANAGERS WILL BE IN GREAT DEMAND, RIGHT TOMORROW.

Posted by kgittins at 12:09 PM | Comments (0)