Dec 14, 2013
Finding tail risk where you don't expect it
I've heard it said that immigration is an entrepreneurial act. I agree with that. But the downside is that most entrepreneurs fail. I don't think most immigrants to America fail -- quite the contrary. But clearly, some do fail. Like MS13 or the Boston Bomber Tsaernevs.
The link is the personal story of how a WSJ reporter got to know the family when it arrived in America. It's a heartbreaking story but well worth reading and pondering.