The opening of Shakespeare's The Merchant of Venice is similar to a chat between a friendly group of hedge fund managers on any street in New York. One of the group is glum and the others want to know why. They share some stories about business risk. Salanio discusses how he has to focus on all of the details to avoid a bad outcome, but even then he faces uncertainty.
Believe me, sir, had I such venture forth,
The better part of my affections would
Be with my hopes abroad. I should be still
Plucking the grass, to know where sits the wind,
Peering in maps for ports and piers and roads;
And every object that might make me fear
Misfortune to my ventures, out of doubt
Would make me sad.
Another in the group talks about the downside if an investment hits the rocks before it arrives in port. But one of the main characters, Antonio, argues that he is not upset about business because he is tries to employ risk management.
Believe me, no: I thank my fortune for it,
My ventures are not in one bottom trusted,
Nor to one place; nor is my whole estate
Upon the fortune of this present year:
Therefore my merchandise makes me not sad.
Act 1 Scene 1
Centuries later there is no change in how we look at businesses. Even Shakespeare provides investment advice, you have to diversify. Antonio’s problem only focuses on the possible non-diversified risk of love.
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