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Tag Archives: Nassim Taleb’s Notebook

The Macrobullshit problem

158 The Macrobullshit problem, r=g, and why a degree in economics is very harmful analytically I started my professional life as a foreign exchange option trader. Thirty years ago economists believed that “purchasing power parity” determined the “long term” currency rate between countries. And economists who became traders (plus traders stupid enough to listen to […]

156 The Pikettistas’ Reasoning Error

Reminded by a tweet that NNT frequently updates his notebook page. A wealth tax meaning to punish the wealth generator is absurd: since the payoff is severely clipped on the upside, it would be a lunacy to be a risk taker with small probability bets, with wins of 20 (after tax) rather than 100, then […]

nntaleb: The Magnificent, Note 133,

nntaleb: The Magnificent, Note 133,