In Early 2012, a portfolio inside JPMorgan Chase’s Chief Investment Office was breaching its risk limits. Then the bank adopted a new value-at-risk model, and the problem seemed to go away. The new model roughly halved the portfolio’s reported risk. Within months, the trades later known as the “London Whale” https://quantitativetradingresear84051.tusblogos.com/43889213/when-the-risk-model-is-the-risk-institutional-lessons-in-algorithmic-trading-risk-management