Long-Term Capital Management co-founder Robert Merton, former Maverick Capital chief macroeconomic strategist Steve Galbraith and Massachusetts Institute of Technology’s Andrew Lo were recently named by the U.S. Treasury to serve on the Financial Research Advisory Committee of the Office of Financial Research. The Dodd-Frank Act established the OFR within Treasury to “serve the Financial Stability Oversight Council, its member agencies, and the public by improving the quality, transparency, and accessibility of financial data and information; conducting and sponsoring research related to financial stability; and promoting best practices in risk management,” according to a Treasury statement. [Hedge Fund Intelligence]

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  1. Posted by F9_Calculate | December 3, 2012 at 8:43 PM

    George is in his office at Yankee stadium, he pushes 'play' on a cassette
    recorder. The voice on the tape sounds exactly like George.

    Voice: Chapter one. In order to manage risk we must first understand risk.
    How do you spot risk? How do you avoid risk and what makes it so risky?

    George: This guy sounds just like me.

    Voice: To understand risk, we must first define risk.

    George: This is horrible.

    Voice: Risk is defined as–

    George (banging the recorder): Stop it! Stop it!

  2. Posted by A Dumbass | December 3, 2012 at 9:05 PM

    The name of the book is "When Genius Failed".

  3. Posted by Alexsey Vayner | December 4, 2012 at 8:23 AM

    Bernie Madoff sadly overlooked again

  4. Posted by Guest | December 4, 2012 at 9:13 AM

    There's still room on the ethics committee

  5. Posted by D Tepper | December 4, 2012 at 10:04 AM

    The secret to risk is having pelotas made of copper and zinc.

  6. Posted by Not laxbro | December 4, 2012 at 12:10 PM

    What does this story have to do with lacrosse?

  7. Posted by Title Loans | September 30, 2013 at 8:49 PM

    I read that book "When Genius Failed" it was a good read and stood out amongst the best pieces i have read on that subject.