Journal Editorial Report: The week's best and worst from Kim Strassel, Kyle Peterson, Dan Henninger and Allysia Finley. Images: AP/AFP/Getty Images Composite: Mark KellyNot even the most insightful manager could have predicted at the beginning of 2020 that a global pandemic would turn economies upside down.
While corporate and investment fiduciaries are responsible for pricing and mitigating risk, most of their focus is taken up with what Donald Rumsfeld would have characterized as “known unknowns.” These are categorical threats—expropriation, regulatory actions, litigation, cybersecurity, weather-related or reputational risks—understood to threaten the strategic and business objectives of commercial enterprises. But they aren’t the only threats.
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