Thursday, August 19, 2010
by Jacob Goldstein
Here’s the latest Planet Money Deep Read — o…
NASSIM TALEB: The governments have transformed private debt into public debt. Now, that’s not something very commendable, because your grandchildren — and I know you have grandchildren — your grandchildren and their children will bear the price. This is immoral.
Also filed in Books, Contributors, John, Video
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Tagged bell curve, dave lull, fat tails, inflation 'tax', nassim taleb, Nouriel Roubini, Paul Solman, PBS, private liabilities to public debt, recession, Video
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Click arrow to listen Christopher Lydon / Nassim Taleb telephone interview. Link to source and synopsis. 3. On bailouts: My analogy is to the gambler who is now gambling with the trust fund of his unborn great-great-granchildren… Prudence should be the first thing on the agenda of governments, not speculation. Stimulus packages are speculation… [...]
When it comes to economic life, we have evidence that a cab driver knows as much as a political scientist-anyone in Washington- in what’s going to happen tomorrow.
People tend to fit their beliefs to the profession, rather than fit their professions to their beliefs…
…when people’s income depends on certain set of beliefs, they will endorse these sets of beliefs, just for the sake of maintaining their lifestyle.
HatTip to Dave Lull Nassim Taleb Interview – The Brian Lehrer Show 052110 WNYC-Nassim Nicholas Taleb, former hedge fund advisor, professor, and author of the best-selling book The Black Swan: The Impact of the Highly Improbable (Random House Trade Paperbacks; 2 edition, 2010), continues his exploration of randomness and the unpredictability of markets with the new edition [...]
HatTip to Dave Lull. ai5000 interviews Nassim TalebThis is a link to the streaming video (which wasn’t playing very well the day I discovered it. Just added the YouTube links). So I made an audio recording of it. You’ll hear a few skips and pops and the last few seconds of the video wouldn’t [...]
Also filed in Contributors, John, Video
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Tagged ai5000, Audio, avoid clustering, cash, collection of currencies and metals, etfs, Investing, low leverage, mediterranean real estate, Nassim Nicholas Taleb, over-insured, rare events, robustness
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From Jan Irving’s mostly excellent Gnostic Media podcast. What would happen if everyone in society received an immunization against all of today’s media and political propaganda? Is there a simple, logical process to arm ourselves against such attempts at mind manipulation and control? What if you had the ability to quickly and easily break down [...]
http://www.econtalk.org/archives/2010/05/taleb_on_black_1.html
And a third thing- it’s very obvious, so obvious you can’t believe it hasn’t happened is- Why on earth are the ratings agencies- Moody’s and Standard and Poor- paid by the people whose bonds they are rating? It’s inevitably going to lead to problems because they’re incentivized to please the people that pay them.
Shared by JohnH
Anybody read The Big Short? Would love to understand the details of making the kind of trades NNT talks about. I wish someone would write a ‘How To’ with specifics built around NNT’s Moscow Forum strategy outlined here: http://www.bl…