New Statesman – The NS Interview: Nassim Nicholas Taleb

“Cameron is extraordinary. He’s the only thing we have left”

Many people believed that the banking crisis was unforeseeable, but you disagreed.
Well, I wrote in my book The Black Swan that the banking system was sitting on dynamite. I made bets on it because nobody was listening.

Your investments and books have made millions. Do people ask you for financial advice?
Yeah, but I don’t answer. That’s not my profession. I am a thinker. I like to use investment as a discipline.

In what way?
My motto is: “Never forecast anything unless you have your neck on the line.”

Is there one person you think is most to blame for the financial situation we find ourselves in?
There’s a collective, but I blame Ben Bernanke the most. He studied the Great Depression, so he should know better. Alan Greenspan is unskilled; you don’t take the unskilled seriously.

A new version of The Black Swan has just come out. What’s the theory behind it?
There are things we don’t understand – low-probability, high-impact events – and they hurt us. In the first version, I identified those things. Now, I’ve written about what to do next.

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