Re: More bad news for risk management

["Tomas L. Byrnes" <tomb () byrneit net>]

Ignoring risk is a perfectly valid way of managing it, if the return of
putting the resources into the risky endeavor exceed the costs of
putting them into managing the risk. 

It's probably hard wired into our psyche.

-----Original Message-----
From: funsec-bounces () linuxbox org [mailto:funsec-bounces () linuxbox org]
On Behalf Of Rob, grandpa of Ryan, Trevor, Devon & Hannah
Sent: Tuesday, August 14, 2012 3:03 PM
To: funsec () linuxbox org
Cc: infosecbc () yahoogroups com
Subject: [funsec] More bad news for risk management

Overconfidence make you successful in business.

http://www.dailymail.co.uk/sciencetech/article-2188148/Sir-Alan-Sugar-ef
fect-
Overconfidence-make-successful-workplace.html

Not just confidence, mind you, *over*confidence.

Add in the Dunning-Kruger effect:
http://www.spring.org.uk/2012/06/the-dunning-kruger-effect-why-the-
incompetent-dont-know-theyre-incompetent.php

... and the Peter Principle:
http://en.wikipedia.org/wiki/Peter_Principle

... and you start to realize why all those huge banks keep failing ...

======================  (quote inserted randomly by Pegasus Mailer)
rslade () vcn bc ca     slade () victoria tc ca     rslade () computercrime org
      Security, like correctness, is not an add-on feature.
                                               - Andrew S. Tanenbaum
victoria.tc.ca/techrev/rms.htm http://www.infosecbc.org/links
http://blogs.securiteam.com/index.php/archives/author/p1/
http://twitter.com/rslade
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