Revising the Conversation About Risk and Risk Taking

The recent market crisis destroyed capital, challenged bedrock tenets of economics and revealed significant limitations in standard investment management practices. But for families of significant wealth, there is a silver lining. In the long run, this crisis will help safeguard the wealth of future generations because it will change how families and advisors communicate about and manage risk. Since

The recent market crisis destroyed capital, challenged bedrock tenets of economics and revealed significant limitations in standard investment management practices. But for families of significant wealth, there is a silver lining. In the long run, this crisis will help safeguard the wealth of future generations because it will change how families and advisors communicate about and manage risk.

Since 2001, the relative prosperity and market optimism provided little incentive for famili

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