"I'm a pessimist, but that is no reason to be gloomy!"

 "I'm a pessimist, but that is no reason to be gloomy!" 

- the late Cormac McCarthy 

Cormac could have been a fixed income guy, but he was a physicist by training.  This phrase should be placed on the wall of every risk manager's office. Yes, you should look for risks, but that does not mean that the world is always going to come crashing down.