At the origin, the management of risks was invented by Thales (of Miletus) around 585 BC. As depicted by Aristotle, Thales created the first future contract on the production of olives in those ancient times. According to the story, he anticipated while it was yet winter that there would be a great harvest of olives in the coming year; so, having a little money, he gave deposits for the use of all olive-presses in Chios and Miletus, which he hired at a low price because no one bid against him. When the harvest time came, and many were wanted all at once and of a sudden, he let them out at any rate which he pleased, and made a quantity of money. Thus he showed the world that philosophers can be rich if they like, but that their ambition is of another sort. That’s what risk management must be.