Eric Weinstein is a member of this page and has all the right attributes. He is a pure scientist, an activist against academic science and has been reponsible for some people testifying in Congress against the econ risk tools. http://www.guardian.co.uk/science/blog/2013/may/23/roll-over-einstein-meet-weinstein via Eric Weinstein is a member of this page… – Nassim Nicholas Taleb | Facebook.
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Journalists feel contempt for those who fear them and a deep resentment for those who don’t. via Journalists feel contempt for those who… – Nassim Nicholas Taleb | Facebook.
Georges Moustaki, 1934-2013; a moment of silence for the true Mediterranean. via Georges Moustaki, 1934-2013; a moment of… – Nassim Nicholas Taleb | Facebook.
My point is not just that real humans capture the world with less adorned/narrated bullshit than academics. What distinguishes the real human from the academic is not experience, but rather the AntiFragile convex risktaking mindset that led to have experience in the first place. (Obviously the point doesn’t affect matters that are meant to be [...]
The principal value of higher education is learning from academics to become what they are not, to use them as moral, intellectual, and practical inverse role models. Seen that way, it can be worth the price. (Via Negativa) via The principal value of higher education… – Nassim Nicholas Taleb | Facebook.
What would you rather be, poor in a country that has a large middle class, or poor in a country that has massive inequalities, with many people like you, a very small number of mega-opulent, and no middle class?Think about it in terms of people you are likely to encounter, and compete with. The super-rich [...]
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Tagged lumpen
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When someone starts a sentence with the first half containing “I” , “not”, and “but”, the “not” should be removed and the “but” replaced with “therefore”. Examples: “I am not prejudiced, but” “I will not honor you with a reply, but” “I do not usually [...], but” – The most infuriating is a letter that [...]
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High Modernity: routine in place of physical effort, physical effort in place of mental expenditure, & mental expenditure in place of mental clarity. via High Modernity: routine in place of… – Nassim Nicholas Taleb | Facebook.
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Friends, here is: my new text. Volume 1 covers the ideas of The Black Swan expressed mathematically. http://www.fooledbyrandomness.com/FatTails.html(added derivations of skin-in-the-game, etc.) How can one correct academic fraud? Not only have economics professors not addressed the substance of my points accusing them of misusing statistical methods, remember these frauds are still using risk methods that [...]
It’s a sign of weakness to worry about showing signs of weakness. via It’s a sign of weakness to worry about… – Nassim Nicholas Taleb | Facebook.
Language evolves from mistake to mistake, much better than through deliberate improvement. (Antifragile) via Language evolves from mistake to… – Nassim Nicholas Taleb | Facebook.
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The only valid political system is one that can handle an imbecile in power without suffering from it. via The only valid political system is one… – Nassim Nicholas Taleb | Facebook.
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Traffic expressed in time to travel from point A to point B is convex to the number of cars. If you raise the number of cars by 1% you increase travel time by a lot more than 1%. Obviously, the solution is to spread traffic and avoid concentration. 2-3% fewer cars in one area can [...]
Success in all endeavors is requires absence of specific qualities. 1) To succeed in crime requires absence of empathy, 2) To succeed in banking you need absense of shame at hiding risks, 3) To succeed in school requires absence of common sense, 4) To succeed in economics requires absence of understanding of probability, risk, or [...]
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Time for the education system to realize that slow learners are deeper, more robust, and unlike fast ones, make small, rather than large mistakes. via Time for the education system to realize… – Nassim Nicholas Taleb | Facebook.
Anger is a convex heuristic; it is not a reaction to be judged by its small mistakes, but by the total payoff, assuming you direct it at things that offend your sense of ethics. Forget the dictum that anger is madness, to be controlled, etc. If you systematically vent your anger at things that offend [...]
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TO ECONOMISTS. Let me make it clear. I am as orthodox neoclassical economist as they make them, not a fringe heterodox or something. I just do not like unreliable models that use *some* math like regression and miss a layer of stochasticity, and get wrong results, and I hate sloppy mechanistic reliance on bad statistical [...]
HOW TO STRENGTHEN YOUR ARGUMENT: Since I’ve posted my two doc showing excatly where economics use BS statistical methods that do not support their conclusions (=>irresponsible charlatans), no economist has anything said of *substance*. But the good news is that they were not silent, but annoyed and critical. Every sentence that is not directed at [...]
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(cont) For those new to the game, how mathematical pseudomodels in economics fragilize; www.fooledbyrandomness.com/econfragilize.pdf via (cont) For those new to the game, how… – Nassim Nicholas Taleb | Facebook.
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Many are good at solving equations but not understanding them; others are good at understanding equations but not solving them ; a few are good at both understanding and solving equations; those left over who are neither good at solving equations nor understanding them, yet insist on doing mathematics, become economists. via Many are good [...]
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In old age, the difference between happy and unhappy in the quality/regularity of some bodily functions (use imagination), money can’t buy. (3rd revision) via In old age, the difference between happy… – Nassim Nicholas Taleb | Facebook.
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Antifragile Heuristic 34 (Barbell, Jensen’s Inequality): Underreact most of the time, overreact mercilessly on the occasion, going for the jugular, and people will will leave you alone. Fughetabout “measured” reactions. Be unpredictable. *** From FBR (2001). “This point has applications in evolutionary biology, evolutionary game theory, and conflict situations. A mild degree of unpredictability in [...]
Journalists cannot grasp that what is interesting is not necessarily important; most cannot even grasp that what is sensational is not necessarily interesting. via Journalists cannot grasp that what is… – Nassim Nicholas Taleb | Facebook.
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The fool considers that what he doesn’t understand is either extremely stupid, or extemely intelligent, pending on how others react to it. via The fool considers that what he doesn’t… – Nassim Nicholas Taleb | Facebook.
Friends, for comment: The summary and parts of the textbook related to The Black Swan. https://dl.dropboxusercontent.com/u/50282823/summaryproblems.pdf via Friends, for comment: The summary and… – Nassim Nicholas Taleb | Facebook.
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