Risk management is not rocket science-it cannot be, since the past does not repeat itself on a sufficiently reliable basis. Future risks cannot be understood without examining the economic forces that shape them…..However, understanding risks makes sense only if that understanding is used to create value. This means that risk management cannot be done independently of an understanding of the profits that come from taking risks.’ [Rene Stultz, ‘Why Risk Management is not a Rocket Science’, Financial Times, 27 June...