Hi Karel,
I beg to differ that it is a semantic misunderstanding. The real difference that lies at the core of the argument is the difference between the superficial risk that lies as veil over the investment world(in the way the general public believes it) and the risk that makes something fail.
An Aeroplane with a bomb on board that is set to explode at some predetermined time, with a timer that is not defect, will almost certainly explode. Yet may be 500 passengers happily boarded the plane, believing that this flight was as safe as the previous one.
That's a different kettle of fish than effective Risk Management, in which the specific goal is Risk Avoidance.
In regards to spending some "heat", a speed skater or Marathon runner doesn't get the Gold Medal for minimizing his efforts.
Conrad
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