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After reading carefully the following article http://www.nytimes.com/2009/01/04/magazine/04risk-t.html?& Please answer the following questions: 1- Define Value at Risk 2- Summarize the strengths of VaR as a

After reading carefully the following article http://www.nytimes.com/2009/01/04/magazine/04risk-t.html?&

Please answer the following questions:

1- Define Value at Risk

2- Summarize the strengths of VaR as a risk management tool.

3- Summarize the weaknesses of VaR.

4- Does reliance on imperfect measures of risk lead to better or worse risk management?

Explain your reasoning clearly!!!!

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