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Extreme Risk Management: Revolutionary Approaches to Evaluating and Measuring Risk ReviewThis is an exceptionally clear book written by an industrial expert for the general public. The book covers a lot of topics with focus on causality and extreme risk. On the other hand, it does not teach how to measure risk, how to do causal inference, etc. It only serves to introduce those concepts. The author also seemed to differentiate between statistics and causality but, in fact, a lot of the theories in causal inference are invented by statisticians, econometricians or epidemiologists (all stat-oriented professionals) - the most well-known framework may be the Rubin Causal Model (RCM)'s counter-factual or potential-outcome approach which seemed to have been missed by the author. The author appeared to favor the Pearl Causal Model (PCM) which is a more in-depth approach to causal inference through causal diagrams and the "do-calculus", and as argued by Pearl and many AI experts, epidemiologists and philosophers, is one of the best approaches. The RCM's potential-outcome approach can also be regarded as a subset of the PCM. However, the author did not describe any of the above methods. For that reason, I cannot recommend a 5-star rating. Overall, it is a wonderful book to read if you just want to learn the concepts not the techniques.Extreme Risk Management: Revolutionary Approaches to Evaluating and Measuring Risk Overview
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