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Keyword: taleb

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  • Evidence Of Unreality

    04/26/2017 2:07:52 PM PDT · by smashtheleft · 4 replies
    Insurgent Tribe ^ | 4/26/17 | Keith Nobles
    Where to start… A few days ago Nassim Nicholas Taleb wrote, “So we end up populating what we call the intelligentsia with people who are delusional, literally mentally deranged, simply because they never have to pay for the consequences of their actions, repeating modernist slogans stripped of all depth. In general, when you hear someone invoking abstract modernistic notions, you can assume that they got some education (but not enough, or in the wrong discipline) and too little accountability.” On Monday, James Kunstler wrote, “But the dishonesty at work is pretty obvious, and the problem with dishonesty in financial affairs...
  • No Worship Without Skin in the Game

    04/15/2017 5:29:47 AM PDT · by OwenKellogg · 12 replies
    medium.com ^ | 4/15/17 | Nassim Nicholas Taleb
    No Worship Without Skin in the Game Symmetry, symmetry everywhere — Belief and worship requires an entry fee — The Gods do not like cheap signaling. (Author's) Note: I am posting these excerpts from SKIN IN THE GAME as I am ending the harrying Greek-Orthodox lent period which, for the most part, allows no animal products. This diet is particularly hard to keep in the West where people use butter and dairy products. But once you fast, you feel entitled to celebrate Easter; it is like the exhilaration of fresh water when one is thirsty. You’ve paid a price. Your holiday is different from that...
  • Real Life is Risk Taking

    04/15/2017 4:09:07 AM PDT · by OwenKellogg · 11 replies
    medium.com ^ | 4/11/2017 | Nassim Nicholas Taleb
    Real Life is Risk Taking Chapter from Skin in the Game Life in the Simulation Machine There are many ways to convince with an icepick — Councils of bickering bishops Theosis– Why Trump will win I once sat in a dinner party on a large round table across from a courteous fellow called David. The host was a physicist, Edgar C. who was honoring an author, a former secretary of the great Borges, so, except for the fellow David, everyone was dressed like people who read Borges. As to David, he was dressed like someone who didn’t know that people who read, among...
  • Why Each One Should Eat His Own Turtles: Equality in Uncertainty

    04/01/2017 3:33:58 AM PDT · by OwenKellogg · 16 replies
    medium.com ^ | 3/30/2017 | Nassim Nicholas Taleb
    Why Each One Should Eat His Own Turtles: Equality in Uncertainty How do turtles taste — Where are the new customers? –Sharia and asymmetry (Chapter 2 of Skin in the Game) You who caught the turtles better eat them (Ipsi testudines edite, qui cepistis) goes the ancient adage. The origin of the expression is as follows. It was said that a group of fishermen caught a large number of turtles. After cooking them, they found out at the communal meal that these sea animals were much less edible that they thought: not many members of the group were willing to eat them....
  • The Facts are True, the News is Fake

    03/14/2017 8:41:46 AM PDT · by OwenKellogg · 9 replies
    medium.com ^ | 3/12/2017 | Nassim Nicholas Taleb
    The Facts are True, the News is Fake How to Disagree with Yourself In the summer of 2009, I partook of a an hour long discussion with David Cameron, who was in the running for, and later became, the U.K. Prime Minister. The discussion was about how to make society robust, even immune to Black Swans, what structure was needed for both decentralization and accountability, and how the system should be built, that sort of thing. It was an interesting fifty-nine minutes around the topics of the Incerto and I felt great communicating all the points in bulk for the first time....
  • Inequality and Skin in the Game

    01/14/2017 3:03:02 AM PST · by oblomov · 14 replies
    Medium ^ | 27 Dec 2016 | Nassim N. Taleb
    There is inequality and inequality. The first is the inequality people tolerate, such as one’s understanding compared to that of people deemed heroes, say Einstein, Michelangelo, or the recluse mathematician Grisha Perelman, in comparison to whom one has no difficulty acknowledging a large surplus. This applies to entrepreneurs, artists, soldiers, heroes, the singer Bob Dylan, Socrates, the current local celebrity chef, some Roman Emperor of good repute, say Marcus Aurelius; in short those for whom one can naturally be a “fan”. You may like to imitate them, you may aspire to be like them; but you don’t resent them. The...
  • The Intellectual Yet Idiot

    09/19/2016 12:45:55 PM PDT · by Darnright · 22 replies
    medium.com ^ | 9/16/2016 | Nassim Nicholas Taleb
    What we have been seeing worldwide, from India to the UK to the US, is the rebellion against the inner circle of no-skin-in-the-game policymaking “clerks” and journalists-insiders, that class of paternalistic semi-intellectual experts with some Ivy league, Oxford-Cambridge, or similar label-driven education who are telling the rest of us 1) what to do, 2) what to eat, 3) how to speak, 4) how to think… and 5) who to vote for. But the problem is the one-eyed following the blind: these self-described members of the “intelligenzia” can’t find a coconut in Coconut Island, meaning they aren’t intelligent enough to define...
  • Nassim Taleb Sums Up America's Election In 17 "Black Swan" Words

    03/22/2016 2:36:13 PM PDT · by Lorianne · 34 replies
    Zero Hedge ^ | 13 March 2016 | On Nassim Taleb, by Tyler Durden
    Sometimes, less is more, and in infamous "Black Swan" philosopher Nassim Taleb's case, summing up the chaos that is enveloping America, and its forthcoming election was as simple as the following: "The *establishment* composed of journos, BS-Vending talking heads with well-formulated verbs, bureaucrato-cronies, lobbyists-in training, New Yorker-reading semi-intellectuals, image-conscious empty suits, Washington rent-seekers and other "well thinking" members of the vocal elites are not getting the point about what is happening and the sterility of their arguments." To which he appended the following 17 perfectly succinct words: "People are not voting for Trump (or Sanders). People are just voting, finally,...
  • A Manifesto for Disorder: Nassim Nicholas Taleb’s ‘Antifragile’ Reviewed

    11/26/2012 5:45:38 PM PST · by oblomov · 5 replies
    Daily Beast ^ | 26 Nov 2012 | Robert Herritt
    Nassim Nicholas Taleb has little tolerance for, well, a lot of things. But, as his latest book demonstrates, he holds a particular grievance against the mediocre, the safe middle ground, and most forms of moderation. True to form, Antifragile: Things that Gain From Disorder, is a work of non-fiction that trades in extremes—a book that, in complete earnestness, offers thoughts on everything from the philosophy of Seneca and the structure of the Swiss government to the value of procrastination and the limits of academic research. He is just as likely to bring in Ben Bernanke and Ralph Nader as Hammurabi...
  • Nassim Taleb: Don't Listen to Geithner or Krugman

    10/01/2010 5:34:36 AM PDT · by Lonesome in Massachussets · 4 replies
    Atlantic Magazine ^ | September 30, 2010 | Nicole Allan
    Since Tim Geithner did not predict the economic crisis, Nassim Taleb has no interest in listening to him talk about it now. The author of The Black Swan, a book about risk and probability theory, told National Journal's Matthew Cooper that he did not listen to Geithner, who preceded him at the Washington Ideas Forum.
  • Obama Stimulus Made Economic Crisis Worse, `Black Swan' Author Taleb Says

    09/25/2010 8:21:23 AM PDT · by the invisib1e hand · 15 replies · 1+ views
    blahberg ^ | Sep 25, 2010 | the unknown author
    It can't be posted on FR, apparently by a decree of the media police or that which serves the same purpose in a "free" country.But I think it's legal to link to it: '''' ''' ''''' ''''' '' '''' '''...
  • Taleb: Buffett's Track Record Means Completely Nothing, I Have Proof George Soros Is The True Oracle

    02/09/2010 7:07:46 AM PST · by blam · 9 replies · 516+ views
    The Business Insider ^ | 2-9-2010 | Vincent Fernando
    Taleb: Buffett's Track Record Means Completely Nothing, I Have Proof George Soros Is The True Oracle Vincent Fernando Feb. 9, 2010, 8:02 AM In an ai5000 article next to a studio shot with a stuffed black swan, Nassim Taleb makes it clear he has far more confidence in the investment acumen of George Soros than Warren Buffett. ai5000: "I don’t want to spend too much time on Buffett. George Soros has 2 million times more statistical evidence that his results are not chance than Buffett does. Soros is vastly more robust. I am not saying Buffett doesn’t have skill—I’m just...
  • Taleb: The World is More "Complex", More Moody, Much Less Predictable(finally seeing wisdom?)

    01/11/2010 5:40:25 AM PST · by TigerLikesRooster · 4 replies · 385+ views
    Economic Policy Journal ^ | 01/11/10 | Robert Wenzel
    Taleb: The World is More "Complex", More Moody, Much Less Predictable. Nassim Nicholas Taleb has discovered that the more things change the more they stay the same. This has caused him to go on an internet diet: I am not entirely deprived of the Internet; this is just a severe diet, with strict rationing. He writes that the internet has the ability to spread information at before unheard of speed, which has consequences: I used to think that the problem of information is that it turns homo sapiens into fools — we gain disproportionately in confidence, particularly in domains where...
  • You Don't Know The Math(Quant got the market wrong)

    09/29/2009 3:59:54 AM PDT · by TigerLikesRooster · 15 replies · 827+ views
    Forbes ^ | 09/29/09 | Michael Maiello
    You Don't Know The Math Michael Maiello, 09.29.09, 06:00 AM EDT The complexities of the financial markets are beyond your broker's abilities. Four years retired from Yale, Benoit Mandelbrot, the inventor of fractal geometry, is still trying to teach the essential lesson of his life's work--nature and markets defy easy description. Anyone who tells you otherwise is either trying to sell you something, doesn't know the math or both. Last week, Mandelbrot, 84, spoke to a gathering of diplomats, business leaders and philanthropists at the Louise Blouin Foundation's Creative Leadership Summit. Mandelbrot has also served as mentor to economist Nassim...
  • Taleb: You Fools Don't Understand That We're Doomed

    08/13/2009 12:41:11 PM PDT · by freespirited · 7 replies · 1,494+ views
    Business Insider ^ | 08/12/09 | Henry Blodgett
    The Black Swan graced CNBC with His presence this morning. In sum: * We're all in denial. * We're replacing private debt with public debt. * We're not dealing with the cancer in our banking system. * We're not making the structural changes we need to make. *We're not being aggressive enough about restructuring debt (debt for equity swaps). * Bernanke is a wimpy Greenspan sycophant. * Obama's rewarding the fools who got us here (Summers, Bernanke, Geithner). * The banksters are taking over again. He's pretty much right, by the way.
  • Former Hamas Fundraiser to Speak at CAIR Banquet

    04/04/2009 7:40:50 AM PDT · by AJKauf · 1 replies · 204+ views
    Pajamas Media ^ | April 4 | Patrick Poole
    Before the Holy Land Foundation (HLF) was closed by the U.S. government as a designated global terrorist fundraising entity just weeks after the 9/11 attacks, Monzer Taleb (aka Munzir Taleb, Monzer Talib, et al.) was part of the infamous Al-Sakhra band, which toured the U.S. raising money for the HLF and the terrorist group Hamas. Taleb was so active in his fundraising pursuits that he was personally named as an unindicted co-conspirator in the HLF terrorism finance trial, which concluded this past November with guilty verdicts on all 108 counts for the defendants. Monzer Taleb continues his Hamas fundraising this...
  • Mr. Taleb Goes to Washington

    03/27/2009 6:52:20 AM PDT · by hripka · 432+ views
    Thebigmoney.com ^ | March 26, 2009 | Marion Maneker
    Nassim Taleb is an unlikely choice to play the Jimmy Stewart role in a 21st-century remake of the Depression-era classic Mr. Smith Goes to Washington [1]. But the tale of a naive do-gooder who tries to remind a corrupt political class of its obligations was re-enacted this week when Taleb attended the Wall Street Journal's Future of Finance conference in Washington, D.C. A French- and Arabic-speaking former options trader with a taste for obscure Greek philosophers and the ambition to be seen as a literary figure, Taleb has grown famous for his book The Black Swan [2], which has sold...
  • Irrational Pessimism (The financial markets are healing)

    12/02/2008 7:30:24 PM PST · by SeekAndFind · 26 replies · 757+ views
    American Spectator ^ | Dec. 2, 2008 | Brian Wesbury
    SINCE 9/11, A PALL of pessimism covered the U.S. Polls show that between 60 and 85 percent of Americans have believed that the U.S. is in a recession or would go into one the following year. But from September 2001 through August 2008, those polls were wrong. Nonetheless, the failure of Lehman Brothers, with its ripple effect on money market accounts and confidence in the U.S. banking system, finally made this prognostication a reality. Rather than a prolonged recession, however, or one that is worsening, we’re seeing a temporary “V”-shaped recession caused by a sharp, fear-driven slowdown in the turnover...
  • Who Is Ali Taleb?:

    09/26/2008 10:19:10 AM PDT · by DFG · 1 replies · 366+ views
    DebbieSchlussel.com ^ | 09/26/08 | Debbie Schlussel
    After 9/11, America asked its resident Muslims to help us fight Islamic terrorism on our soil, but--despite their repeated claims of loyalty to America--few answered the call. One of those who did risk his life and started informing the U.S. government on terrorist-related criminal activities within the Islamic community was a client I've represented since May. For his good work for America, my client was outed, had a death fatwa (Islamic religious decree) put on his head, and was framed for a crime he did not commit.