Nassim Nicholas Taleb at Harvard University on social problems Part 1.

Taleb giving a presentation concerning the salient social problems at Harvard University symposium. April 10, 2010.
http://www.fooledbyrandomness.com/ & http://www.edvindavidlemus.com as someone who has been following Mr. Taleb for two or three years now, I think one of his best suggestions is "go to parties" one never knows who one may find, thanks. (Daedalus).

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• Nassim Nicholas Taleb
• Harvard University
• social problems
• robustness
• robust
• small probabilities NNT

[Silicondoc]

@0r14n583lt Bear in mind land and buildings is the highest asset class worldwide and the highest REAL PHYSICAL VALUE combined of any category ever known. Blow up that land/housing/building balloon and when it hits the saturation point, BOOM ! This isn't a rare event, it is a common one. It happens the same every time. This was not just a computer balloon( 1,000 times cheaper than land/home ), it was " the biggest balloon possible, so it's not unpredictable or rare event, just BIG.

[Silicondoc]

@0r14n583lt Yes the voodoo or let's call it cuckoo is on full steroids now since the collapse but it is easily explained. We look at the housing land price statistics for a hundred years and the upward slant increase after tracking with inflation is absolutely obvious to the quarter. Add the computer revolution and global changes with multiple stock markets created and connected and we have simply the new SATURATION LEVEL and blowout. Now a million theories and books for idiots.

[0r14n583lt]

I can sum up his entire thesis in the following: "You can not quantify or measure an economic parameter if you don't know that it exists". All the examples of financial blowups that he refers to resulted from a fundamental lack of imagination on the part of the failed fund managers. Keep in mind, in every instance of a financial blowup, there were individuals well aware of what might happen whom positioned themselves at great risk and profited.

[lovelplants]

10000 years? woo.. ofcourse that's rare.. atleast it's base on theory.. good info.. thanks

[adelle0001]

nice video thanks!

[kaunas888]

They must hate Taleb at Harvard and other centers of academia. The high priests have their nice pat theoretical models which presume to be able to predict things with mathematical certainty, and along comes Taleb, who with common sense points out that they are full of it. I wonder what the students think who are paying top dollar to learn tendly academic theory which is worthless in the real world.

[gsafos]

So simple but so hard for people to understand. A Greek between Romans, as he likes to say.

[willysarmiento]

we should be thankful of mr. taleb's wisdom for reminding our humble existence that we are helpless in the face of forthcoming events. we may have insights but they do not hold any certainty. we might as well remember that living one day at a time is actually true.

[scratPhd]

Ahh The brilliant Mr. Taleb. Thanks for your work!

[KanchoKomancho]

Bravo!

[s08254gk]

thanks for your wisdom,nassim.