Our Method&Model Risk compact seminar, 13-Jan-10, at the Technology Innovation Center in Prague.
Elkan, UnRisk partner in Czech Republic, perfectly organized the event in a great venue. Andreas Binder gave his talk for about 30 attendees, an impressive combination of practitioners and researchers, embracing managing experts from banks and renowned professors from academic institutions, like Academy of Sciences ....
For Andreas and the attendees it was not easy to walking through the most beautiful but also dangerous fields of quant finance in 2 hours.
Summarizing the spirited discussion: how can risk management make good decisions, without knowing what is happening behind-the-technological-curtain? (knowing that this is not enough)
After the seminar, a few attendees, head of treasury of a bank and professors, Elkan and us mingled in a traditional-Czech pub. We had a beer, or two?
The question arose, why, unlike others, do we offer know-how packages?
I answered, Pilsner or Bud? Pilsner stands for a beer with a heavier body, but slightly less alcohol and many beers that call themselves Pilsner or Pils refer to being made in this style. But Bud sells in larger quantities.
Being in the mood for designing a better world anyways, we all came to the conclusion: under our regime, a Pilsner still was a Pilsner. Independently made, innovative, but also traditional, pace making, ... and unique.
An unforgettable day.