Rick Bookstaber: Avoiding Complexity Is 'Risk 101'

<p> Our guest this week is Rick Bookstaber. Rick is the head of risk of Fabric, a startup he founded to provide risk-management software to individual investors through the financial advisors who serve them. Prior to founding Fabric, Rick held a number of senior risk-management roles, most recently as chief risk officer at the University of California system, and before that at various hedge funds and banks, including Bridgewater, FrontPoint Partners, Morgan Stanley, and Salomon Brothers. He also served in the Obama administration, where his work included stints with the Financial Stability Oversight Council and at the SEC on the Volcker Rule and other regulations. Rick has authored several books, including <em>A Demon of Our Own Design</em>, which was published in 2007, as well as <em>The End of Theory</em>, which was published in 2017. Rick received his bachelor’s in economics at Brigham Young University and earned a doctorate in economics from MIT.</p><p></p></p><p><p><strong>Background</strong></p></p><p><p><a href="http://rick.bookstaber.com/p/about-me.html" target="_blank">Bio</a></p></p><p><p><a href="https://fabricrisk.com/" target="_blank">Fabric</a></p></p><p><p><a href="https://www.amazon.com/Demon-Our-Own-Design-Innovation/dp/0470393750/ref=sr_1_1?dchild=1&keywords=Rick+Bookstaber&qid=1629141182&s=books&sr=1-1" target="_blank"><em>A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation</em></a>, by Rick Bookstaber</p><p></p></p><p><p><a href="https://www.amazon.com/End-Theory-Financial-Economics-Interaction/dp/0691169012/ref=sr_1_fkmr0_1?dchild=1&keywords=Rick+Bookstaber&qid=1629141308&s=books&sr=1-1-fkmr0" target="_blank">The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction</a>, by Rick Bookstaber</p><p></p></p><p><p><strong>Risk Management Macro</strong></p></p><p><p> “<a href="https://www.barrons.com/articles/7-risks-that-are-creating-a-new-market-paradigm-51623944363" target="_blank">7 Risks That Are Creating a New Market