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+# *The Failure of Risk Management*
+
+The Failure of Risk Management
+(Why It's Broken and How to Fix It)
+by Douglas W. Hubbard
+
+## Key Takeaways
+
+Qualititative risk analysis
+(i.e. risk matricies, scoring charts)
+departs from legitimate statistical methodology
+and has no robust evidence to suggest its efficacy.
+There is good reason to believe that such methods
+are deleterious to their intended purpose
+in contradiction to the common response
+that they are "better than nothing".
+
+Expected Value (Probability × Magnitude)
+alone can not predict or inform risky decisions,
+except for risk-neutral parties.
+People and organizations are risk-averse
+~~TODO: see chapter 6~~ 
+
+## Mentioned Topics and Abbreviations
+
+Analytic Hierarchy Process (AHP)
+Multi-Attribute Utility Theory (MAUT)
+Actuarial Science
+Options Theory (OT)
+Modern Portfolio Theory (MPT)
+Probabalistic Risk Analysis (PRA)
+Value at Risk (VaR)
+Loss-Exceedance Curve (LEC)
+Risk Tolerance