Dilbert - Brilliant Engineer

 

One CEO making a stand against financial ‘black boxes’ is Hiscox CEO Bronislaw Masojada. The Sunday Times Business section profile on him was titled “If I don’t understand it, I’m not interested” (paywalled). A former Rhodes Scholar, you would think that if any one wouldn’t have to worry about understanding it would be him…

  • This wariness about complexity has stuck with him. ‘If [something] is too complicated, don’t do it, because it means you don’t really understand it.’ He said. ‘The more complex something is, the more likely it is to go wrong.”…Unexpectedly high profits in a particular area are not something to celebrate so much as a red flag. Companies examine things carefully when they lose money — they should be just as curious when things go unusually right. ‘When people are making a lot of money you should always investigate why. Financial services is quite efficient over time and excess profits get competed away.’ Chances are excessive profits are a sign of someone taking a risk that they do not appreciate.”

 

Hiscox CEO Bronislaw Masojada

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