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 angry with economists. The interviewer was just a journalist clueless about his ideas but he got them across anyway by ignoring her questions.
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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".
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.
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.
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