Here it is – the last Cavalcade of Risk for 2008.  Thanks to everyone who submitted articles to the COR throughout the year; I always enjoy reading what you write.  Risk – particularly financial risk – has been on a lot of minds lately with the state of our economy.  Here’s hoping that things get better in 2009, but for now, here’s the best of the risk-related blogosphere as we close out the year.

To start things off, the Provocateur reminds us that risk isn’t necessarily a bad thing.  Some risk-taking is necessary in order for the economy to function (but perhaps we overdid it a bit for the last decade or so).  And man, is that a bummer about the missed chance to get in on Motorola as a start up…

Health Care

Jacob Goldstein, writing at the Wall Street Journal’s Health Blog, explains the drug interaction risks for older Americans as the number of medications and supplements they use increases.   He notes that there are 15 million Americans between the ages of 57 and 85 who use at least five medications and/or supplements, and many don’t discuss OTC meds or supplements with their doctors.

David Williams at Health Business Blog writes about doctors who are afraid to use web-based electronic medical records for their patients but will happily use the internet for banking and investing.  Medical record identity theft is a problem, and David explains that in more detail here.  But keeping medical records on paper doesn’t mean that they won’t end up in the wrong hands either.

Jason Shafrin, writing at Healthcare Economist, looks at the relative merits of forced vaccinations in light of a measles outbreak caused by an unvaccinated child.  This has been a subject that Jay and I have researched heavily over the last few years.  To add my own opinion to the mix, I would say that if parents are to be compelled to vaccinate their children, they should also be compelled to breastfeed for at least a year.  But I suppose there aren’t a lot of corporate profits that derive from breasfeeding, so that’s not likely to happen.

To add a little controversy, here’s a post from Hank Stern at InsureBlog, writing about the heavy burden that uninsured illegal immigrants place on our health care system.  But they also contribute greatly to our economy by filling low-wage and manual labor jobs.  Read through the comments too, as the debate continues there.

Business Risk Management

Laura Utter at IowzBiz has written an article explaining why businesses get audited by their business insurance carrier each year.  Just as with any other type of insurance, companies providing business insurance want to make sure that they know exactly what risk they are assuming.

Nancy Germond, writing at All Business, discusses strategies that companies can use to minimize their exposure to workers comp claims that occur after layoffs. Her advice shows employers how to “Treat employees with the utmost respect, but protect your organization in the process.”

Insurance Toolbox dispenses some tips on avoiding disputes with your auto insurance company.  As with any insurance product, it pays to read the fine print, shop around, and be truthful on applications and claim forms.

Money And Risk

Bill C. at Brain Droppings describes how fear is driving a lot of investors right now, and they are unwilling to buy stocks or real estate as prices decline.  The Fed is funneling large amounts of liquidity into the economy to try to get it back on track, but that runs the risk of triggering hyperinflation down the road a bit.

Ryan at Uncommon Cents writes about an investor who has lost 80% of the value of his assets in the economic meltdown (ouch!)  Ryan points out that a popular index fund is down 38%.  While that’s still a hefty loss, it’s a lot better than 80%, and serves as a reminder that when we take big risks, we might have to weather big losses.

Silicon Valley Blogger, writing at the Digerati Life, gives us some good news about places where you can still stash your money without taking on big risks.  You won’t get the eye-popping gains either, but you might sleep a little more soundly during rough economic times.

Joy at Fulfilled Dreams writes about the Madoff scandal, and compares it with Mad Cow Disease, saying “They [both]  spark schizophrenic fear, they put economies onto a halt, every business in the sector gets quarantined at the slightest hiccup and the farmers always lose their shirts…”

And to close out the year, here’s a little motivation to eat well, exercise, and be on your best behavior in 2009:

We all know that we should maintain a healthy weight, but Sports Geezer has an article detailing a study that links excess weight to heart failure – in a big way.  For a man who is classified as obese, the risk of heart failure is 180% higher than a man of normal weight.  Good thing the non-stop-eating holiday parties are behind us…

Jeff Jonas reports that Santa’s surveillance system keeps getting better and better – 2008 was a great year.  Christmas may be over, but that means that Santa has 359 days to watch you before next Christmas.  And watch you he will.

Have a safe and happy new year’s eve, and we’ll see you in 2009!