Nassim Nicholas Taleb angry with economists. The interviewer was just a journalist clueless about his ideas but he got them across anyway by ignoring her questions. … Nassim Nicholas Taleb crisis finance subprime “Nassim Taleb” “Black Swan” Black Swan
25 Comments
Ron Paul thinks the attack on the US by terrorists is justified. He’s brilliant on domestic and fiscal affairs, but an absolute dolt (possibly worse than Obamao) on international relations.
@citaro06 I understand this, I got some experience in trading.I don’t trust in Models.Trade with news about the market and your feeling about the trade.This will let you win!!
Ron Paul 2012 Abolish the federal and state government, and of course the Federal Reserve sham
i wonder how taleb makes/made trading decisions. if you do not accept any model or forecast that can give you at least a hint of what could be happening in the future then how do you make management decisions? he himself wakes up every day thinking he doesnt understand the world. i personally like taleb, but i dont understand this point.
you know what, like Warren Buffet says, its better to be approximately right than precisely wrong.
The world is complicated. but there are basic components and mechanics to this chaos. We have to stop focusing on the complex results, we have to look at the big picture, core problems that create crisis.
Taleb is angry because he feels angry at people around him failing to admit the huge impacts of human fallibility. if the pilot doesn’t know what he’s doing, i’d be pretty scared too.
He is a genius!His words are true.You don t belive me? Think about his ideas ! I would give him the Nobel!
clone Taleb
Yeah, if Merton & Scholes got the Nobel and LTCM blew up by following their models, and Taleb has debunked them even to their face, then that sits well for Taleb. His point is that economists assume the future will be like the past, so they use means and standard deviations and beta to construct portfolios and figure risks going forward that are all based on a dead past, not realizing that past imbalances can lead to future crises that are NEW. NASDAQ 5,000 was a joke not a solid trendline.
plus one
nassim is god
give some examples and I’ll explain why you are wrong.
Wow, imagine that. Basing important decisions on scientific reasoning and study. Of course thats the problem. Greed, going along with the mob, and ego cause people to be irrational.
This guy is a fucken genius, for purely pointing out that markets are comforted by models which don’t work he should be given a Nobel. Ratings agencies and Big 4 accounting firms should be dissolved and rebuilt with people who aren’t susceptible to “well bla bla bla” wrote a paper on it so therefore it must be true”.
When I started reading his book I thought it was nonsense, by the moment I finished I realized he was genius.
he doesn’t say everyone around him is wrong, he says the world is simply too complicated to make perfect predictions and thus any investment based upon a complex model that “cages risk” isn’t fundamentally sound and eventually equivalent to gambling. Ideally, you highly diversify and invest in things that contain real value and/or productive capacity such as commodities and businesses.
we need more men like this
Mr. Taleb is just impassioned, and is tired, it appears, of fools….as to his book Black Swan, I have only heard about it recently and I do plan to read it. I’ll see if I can see fact mistakes….we’re only human…, but making false and misleading claims, ie those Mr. Tableb is pointing a damning finger at, that’s fraud. Mr. Taleb is far from blaze (blah-zey) and thank god for that!
The Black Swan is full of factual mistakes. Had to stop reading it because I was so annoyed. He might be right in principle, but He’s terrible at proving his theories.
why does this get 3 thumbs down?
I’m reading the Black Swan and think it’s great, but this guy seems rather obnoxious in-person. Once he got stuck on communicating his point, he couldn’t go beyond it. I still don’t know if he’s pure genius or pure paranoia.
LOL, towards the end dude is talking like the end of the world is coming along….. and she just contunues reading the news.
my god do those people understand the english language. I dont think they were listening.
two stupid biatches! Common sense rules for ever!
I have read your books. I agree with you. You tell them the truth. They will believe when its too late.
I hate to break it to you, but we started with the Constitution. Saying that we should read the Constitution and pay attention to it is not a new suggestion at all. The Constitution was a great document, unlike any before it. Unfortunately, it has become clear that it is insufficient, if our goal is to maintain a limited government with focused objectives.
The tenth amendment delegates remaining powers to the states. But then we have the elastic and interstate commerce clauses…too open ended.