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Asset International / AI5000 – Nassim Taleb…continued from ai5000 Magazine

Link To Full Story: www.assetinternational.com

To be sure to catch the start of Nassim Taleb's Interrogation, available in ai5000 Magazine after February 3, click here.

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"There is a quote by Paul Valery. He met Einstein at a party in the 1920s, and he asked him 'Do you carry a notebook' around? Einstein asked,'Why?', and Valeria said 'To write down your ideas, to put them down,' and Einstein said,'I only have one idea.' To succeed, you only have to have one ideatwo ideas, you’re dead.  Journalism: It supplies too much information-slash-noise. I enjoy some journalists, but journalism is the problem. They have all the data/noise, but never talk about the elephant in the room. They miss it. I don’t need papers. The U.K. ones are the only ones I look at. The quality of the U.K .press is much higher than the American press. When I write, I don’t like to be edited.

nntaleb: Edmund Phelps got the “Nobel” for writings no one reads, theories no one uses, and lectures no one understands. [Panel in Moscow]

Link To Full Story: Twitter / nntaleb

nntaleb: Edmund Phelps got the "Nobel" for writings no one reads, theories no one uses, and lectures no one understands. [Panel in Moscow]

nntaleb: Education makes the wise slightly wiser, but makes the fool vastly more dangerous. [Overconfidence, Chapt 4]

Link To Full Story: Twitter / nntaleb

nntaleb: Education makes the wise slightly wiser, but makes the fool vastly more dangerous. [Overconfidence, Chapt 4]

The Russia Forum 2010

Link To Full Story: 2010.therussiaforum.com

Shared by JohnH
There's no embed code for this video so go to the site to watch. Here's a synopsis of what NNT states (he's the 3rd speaker in this video)
Nassim Taleb: Go no-risk with a small percent and high-risk with the rest. For the speculative component, short the S&P and be long in precious metals; bet on hyperinflation with OTM calls on gold and puts on bonds; short USTs as long as Bernanke and Summers are in office; trade on the breakup of Europe. Russia is stable.
But you should see the clip, there's more to it than that. Some funny stuff. Would like to see his statement transcribed and then a discussion on it... If I have time.

Session Video Recording. Investments: Where is the Money in 2010 – What are the Risks?

February 5, 2010

nntaleb: We ask “why is he rich (or poor)?” not “why isn’t he richer (poorer)?”;”why is the crisis so deep?” not “why isn’t it deeper?”. [Chapter 4]

Link To Full Story: Twitter / nntaleb

nntaleb: We ask "why is he rich (or poor)?" not "why isn't he richer (poorer)?";"why is the crisis so deep?" not "why isn't it deeper?". [Chapter 4]

Taleb Says 'Every Human' Should Short U.S. Treasuries

Link To Full Story: Truveo Video Search: nassim taleb days_old:<7 videos

Shared by JohnH
The audio wouldn't play for me but here's a Bloomberg link to Taleb in Moscow.

Nassim Nicholas Taleb, author of “ The Black Swan,” talks about the outlook for U.S. Treasuries and his investment strategy.

Taleb Says ‘Every Single Human Being’ Should Short Treasuries – Bloomberg.com

Link To Full Story: www.bloomberg.com

Shared by JohnH


This has the TwitterSphere alight. Hundreds of tweets rather than the usual daily 20-40.

Feb. 4 (Bloomberg) -- Betting on declines in U.S. Treasury
bonds is a “no brainer,” said Nassim Nicholas Taleb, author of
“The Black Swan.”

“Every single human being should have that trade,” Taleb
said at a conference in Moscow.

Austrian School: Black Swan Protection Protocol: An Approach for Weathering the Storm (continued)

Link To Full Story: austrianschool.blogspot.com

Shared by JohnH
I had thought we'd see more of these. I don't know enough about investing to determine whether this protocol accurately represents NNT's suggestions, but it's a lot further along than I got on my own.
(BELOW THIS POINT I BEGIN TO EXPLAIN THE THEORETICAL FINANCIAL APPROACH FOR EMPLOYING BLACK SWAN PROTOCOL.)

In deploying black swan protection protocol for my portfolio, I begin by identifying the money I have that I do not wish to subject to the risks of the marketplace; in other words, money I absolutely do not want to lose. Next, I identify the amount of money that I want to deploy for the active component of the black swan protection protocol (I’ll explain what this component is momentarily). These two figures comprise the bookends of what Taleb calls the barbell strategy: extreme conservatism at one end, extreme risk taking at the other.

nntaleb: I trust those who earn their living lying on their back more than those who do so sitting on a chair (hint: I read in bed…)

From NNT’s Twitter Page

 

I trust those who earn their living lying on their back more than those who do so sitting on a chair (hint: I read in bed…)

nntaleb: Don't trust a man on a salary -except if it is minimum wage. Those on bondage & βάναυσοι would do anything to "feed a family". [Chapter 3]

Link To Full Story: Twitter / nntaleb

nntaleb: Don't trust a man on a salary -except if it is minimum wage. Those on bondage & βάναυσοι would do anything to "feed a family". [Chapter 3]