Sandy Rattray
The Navigator
Judgement in the fog, money, risk and the call others cannot make.
Sandy Rattray earns The Navigator because his central conviction is that resilience is engineered before crises arrive, never improvised inside them. As co-inventor of the VIX and chief investment officer at Man Group, he converts deep volatility expertise into a doctrine of pre-committed, scenario-agnostic positioning. He does not claim to predict storms. He charts courses built to hold whatever shape the weather takes, which is precisely what separates navigation from forecasting.
“You cannot forecast these events. The only thing I can really feel confident about is that there will be more bad events in the future. You have to have a strategy that is going to be relatively insensitive to the nature of the bad thing.”
“We call the book Strategic Risk Management. It's really a set of strategies that the plan. You can't make the plan up on the fly — the worst thing you could have been doing last year is making up your protection strategy during March.”
“I think it's too expensive to buy put options. You're gonna have to have a strategy which relies on assets in your portfolio which you think are likely to do well in a stress period — that is robust and not depending on your ability to put your finger on what the next bad event might be.”
Masters in Business: “Sandy Rattray on Strategic Risk Management”
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