Risk-Free Money

As many global fund managers, advisers and businesses are finding out this week with their Saudi ties, there is no such thing as “risk-free” money. No risk attached to accepting money is more parlous than your reputation. Your reputation is a function of the trust you place in others and they in you about “character” (wisdom, ethics, sociability, reciprocity and so on). Here is the irony, we have made quantum leaps in our ability to sift through huge amounts of data and processes that don’t require human judgement (artificial intelligence) and baby steps in our ability to assess human character and risks that do require human judgement. “Go figure”, as my American friends say. 

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