Adaptation is a lost cause
The best example for me is Fukushima => the levee was 4 meters too low, only 4 meters
How can we reasonably think we are protected if we project "mean returns" and not "extreme risks" ?
Specially if mean returns are projected using models consensus, excluding most extreme results
I spoke some months ago in a roundtable called "to adapt is to give up" - so true
https:// www. insurancejournal.com/news/international/2025/11/12/847125.htm







