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Tag Archives: Summers

Tumor is still in the system – Nassim Nicholas Taleb part 1 & 2

I was a trader for 21 years, and anyone taking markets seriously needs to consider the following… You remember the day when Kervial was liquidated? The SocGen rogue trader… ‘the hero’ in France. They sold $50 billion dollars worth of stock. How much did capitalization drop world-wide, based on that? Markets went down 12 percent! With a $50 billion order, you drop markets by 12%. We lost 7, 8 Trillion. A huge amount. So it tells you, don’t pay attention to stock markets. They’re driven by the marginal buyer. It means nothing. Short term markets mean nothing.

Taleb CNBC – If the butcher is a failed auction, watch out!

[youtube=http://www.youtube.com/watch?v=y9XrP_QWS-M]   NNT on CNBC May 12, 2010

Nassim Taleb Bloomberg 05/13/10

HatTip to EG! [youtube=http://www.youtube.com/watch?v=OVxcDgfTzuk] NNT was also on CNBC yesterday. The interviewers get in the way somewhat but it’s worth watching.