Showing posts with label Nassim Nicholas Taleb. Show all posts
Showing posts with label Nassim Nicholas Taleb. Show all posts

Saturday, December 25, 2010

Nassim Nicholas Taleb: The Bed of Procrustes: Philosophical and Practical Aphorisms

In December, 2010, the Financial Times had this to say about the book:
The book’s title is taken from the Greek myth in which Procrustes fitted his guests to a bed – cutting to size those too tall and stretching those too short. Taleb’s crystalline nuggets of thought stand alone like esoteric poems, but together produce a sort of picture in reverse – the surrounding space shaded in to reveal the central subject: human knowledge and its limitations.
Find that Financial Times piece here. New York Magazine had this to say about the book:
We are here in this French café in Morningside Heights to talk about Socrates, Seneca, Averroës, Pascal, La Rochefoucauld, Chamfort, Nietzsche, Wittgenstein. These are his forebears in the art of the aphorism, a form he took up for several months earlier this year, resulting in his new book, The Bed of Procrustes, a compendium of Talebian witticisms and skeptical philosophizing: “You are rich if and only if money you refuse tastes better than money you accept.” “Education makes the wise slightly wiser, but it makes the fool vastly more dangerous.” “You are only secure if you can lose your fortune without the additional insult of having to become humble.” It is a work very different in format from The Black Swan and Fooled by Randomness, best sellers that predicted that the mathematical models Wall Street relied on to measure risk would help bring down the world economy. When the crash of 2008 came, it secured Taleb’s fame as the oracle of the Great Recession and made him, for a time, a ubiquitous cable-news presence, inveighing against the financial-policy elite.
Find that New Yorker Magazine article, here.

WNYC Radio's The Takeaway also had the author on their show, recently; listen to that podcast, just below.


Tuesday, December 14, 2010

Predictor of Financial Crisis Dispenses Bite-Sized Wisdom from The Takeaway: Early Edition by feedback@thetakeaway.org (Public Radio International and WNYC Radio)

Nassim Taleb is the philosopher and former trader who correctly predicted that the mathematical models Wall Street used to measure risk would lead to a massive financial crisis. His new book, ‘The Bed of Procrustes,’ scrutinizes the economy, as well as human knowledge and values. The book features "practical and philosophical aphorisms," and includes fortune-cookie sized sentences that attempt to "expose self-delusions you have been living with but have never recognized." Taleb is the current Distinguished Professor of Risk Engineering at New York University. He is the author of 'Fooled by Randomness' and 'The Black Swan.'
Download the podcast here. See also: The Black Swan: Second Edition: The Impact of the Highly Improbable: With a new section: "On Robustness and Fragility", Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets, Dynamic Hedging: Managing Vanilla and Exotic Options (Wiley Finance), Lecturing Birds on Flying: Can Mathematical Theories Destroy the Financial Markets?, The Volatility Surface: A Practitioner's Guide (Wiley Finance), by Nassim Nicholas Taleb The Black Swan, The Impact of the Highly Improbable 1 edition, The Black Swan: The Impact of the Highly Improbable (Hardcover)

Saturday, September 25, 2010

Taleb Says U.S. Deficits ‘Probably the Worst of All’ from BusinessWeek Online

Nassim Nicholas Taleb, author of “The Black Swan,” said he’s concerned budget deficits in the U.S. are spiraling out of control and may now represent a bigger problem than in countries such as Greece. “The U.S. is probably the worst of all,” Taleb told Canada’s BNN television network in an interview today. “They are addicted to debt. We have an administration that, unlike the European administrations, is not aware of the risks of mounting deficits, of the addiction to public deficits and to big government.”
Read the full BusinessWeek story here.

Tuesday, December 22, 2009

Who is Mrs. Cohen from Hadera, and should Israelis care where she puts her money? from Slate Magazine by Daniel Gross

TEL AVIV, Israel—Amram Aharoni has a serious résumé, but he has the mien of a comedian. On Sunday at the Globes' Israel Business Conference, Aharoni, who teaches investment theory and finance at the Herzliya Interdisciplinary Center, ran through his many qualifications—degrees from Tel Aviv University, a doctorate in finance from New York University, many years of experience in the financial sector—before throwing up his hands. "I'm supposed to be a specialist in the capital markets, but I want to confess that many times I know nothing. How can I not foresee the future and any junior analyst can tell me what's going to happen?" In laying out the modern case against active asset management, Aharoni name-checked the efficient markets hypothesis, Nassim Nicholas Taleb's The Black Swan, and ran through a bunch of gems from the behavioralist playbook (like those surveys that show most people think they're above-average drivers). Aharoni assembled a series of analysts' quotes making foolish and wrong short-term market projections, and displayed a chart showing that out of a few dozen Israeli investment funds, only three beat their benchmark indices over eight years.
Read the full Slate article here.