I loved the courageous little girl standing up to the giant rhino and fearlessly painting its toenails. The image fit the feeling of the moment perfectly. Afterwards, we strolled through the art fair and ended up at Coglianese’s stall and discovered Real Rhinos Wear Pink.
The unusual high-level reference to a term coined by an American author, combined with the signaling of a coming policy crackdown on financial risk areas outlined in the article, generated headlines all over the world, hence the radio interview at WGN.Ī friend was visiting from New York City and had come downtown with me to sit in on the interview. The People’s Daily article, coming after an important policy meeting where gray rhino theory figured prominently in the conversation, warned of the need to address specific financial risks: liquidity and credit shocks, shadow banking, abnormal capital market fluctuations, real estate bubbles, and unregulated online financial services. Gray rhinos are, of course, the obvious, probable risks that we’re all too likely but not condemned to neglect and which are the subject of my third book, The Gray Rhino, which had been published in China a few months earlier. It was a few days after a front-page, above-the-fold editorial in China’s official newspaper, People’s Daily, warned of the need to be alert for “gray rhino” financial risks, causing stocks perceived as risky to fall 5 percent. (Like many Chicagoans, I was sad when the Tribune moved out of the iconic 1925 building in Summer 2018.) I had just done an interview with Amy Guth on the “Business Lunch” show at WGN Radio, which at the time was still on the ground floor of Tribune Tower and faced out of a fishbowl window with a view of people passing along the Magnificent Mile. The picture was on display in a booth at an art fair on Michigan Avenue in front of the Chicago Tribune building in July 2017. So many of you have noticed it in my Zoom events and asked me about it that I wanted to share the story behind the picture, entitled “Real Rhinos Wear Pink.” Actually, I have two stories for you: both how it found its way to me and how the Chicago-based artist, Matthew Coglianese aka The PigShark (more on that later) came to create it. The pair are standing on a dystopian city sidewalk in front of a graffiti-covered building that appears to be an abandoned factory. In black silhouette, the girl looks like a cross between a Banksy image and the Fearless Girl statue on Wall Street. Hanging on my office wall is a digital print on metal of a little girl with a paintbrush facing down a giant rhino whose toenails she has painted fuchsia.
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