Reflecting on my original blog entry on the nature of summit seeking executive behavior in inviting existential black swan risks into the organization, I found this morning’s Daodejing reading to be particularly illustrative:
It is better to desist
Than to try to hold it upright and fill it to the brim.
Pounded out to a point
Its sharpness cannot be long maintained.
When treasure fills the hall,
No one is able to keep it safe.
Those who are arrogant because of station and wealth
Bring calamity upon themselves.
To retire when the deed is done
Is the way (dao) that tian works.
Accept normal returns, control and provide for appropriate risk sought within the pursuit, and do not over-specialize. Prudent advice indeed for a time with a derivatives market with trillions in nominal value synthetic, highly leveraged financial instruments at risk.