{"id":169,"date":"2009-12-23T14:36:06","date_gmt":"2009-12-23T22:36:06","guid":{"rendered":"tag:google.com,2005:reader\/item\/bccb87e3c566609c"},"modified":"2009-12-23T14:36:06","modified_gmt":"2009-12-23T22:36:06","slug":"taleb","status":"publish","type":"post","link":"https:\/\/www.blackswanreport.com\/blog\/2009\/12\/taleb\/","title":{"rendered":"taleb"},"content":{"rendered":"<blockquote><p>Shared by  JohnH<br \/>\n<br \/>\nIn the interest of at least appearing to have some balance, from time to time I&#8217;ll share a well-written, intelligent criticism of NNT. This is by Eric Falkenstein, author of Finding Alpha.<\/p><\/blockquote>\n<p>Nassim Taleb is a former trader who wrote a <a href=\"http:\/\/www.amazon.com\/exec\/obidos\/ASIN\/0471152803\/nassimtalebsfavo\">textbook<\/a> on option and market making, and then became more philosophical in his best   seller <a href=\"http:\/\/www.amazon.com\/exec\/obidos\/ASIN\/0812975219\/nassimtalebsfavo\/002-8533486-7104820\">Fooled   by Randomness<\/a>, and now in <a href=\"http:\/\/www.amazon.com\/Black-Swan-Impact-Highly-Improbable\/dp\/1400063515\">The Black Swan<\/a>.\u00a0 His big idea is that sometimes, unexpecting things happen: countries dissolve into anarchy, wars start, unknown authors become famous. His secondary ideas are variations on this theme, that people, especially experts, are generally  biased, overconfident, and rationalize past event so they appear deterministic. Stated baldly, these assertion are hardly novel but true enough, and one can argue about their relevance in various cases. As a highly popular presentation of ideas near to my interests and vocation, I think it is worth critically examining if there is anything to his particular contribution to the literature on cognitive biases or social failures. My conclusion, in short, is no.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shared by  JohnH <\/p>\n<p>In the interest of at least appearing to have some balance, from time to time I&#8217;ll share a well-written, intelligent criticism of NNT. This is by Eric Falkenstein, author of Finding Alpha.<br \/>\nNassim Taleb is a former trader who wrote a &#8230;<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-169","post","type-post","status-publish","format-standard","hentry","category-feeds"],"_links":{"self":[{"href":"https:\/\/www.blackswanreport.com\/blog\/wp-json\/wp\/v2\/posts\/169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.blackswanreport.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.blackswanreport.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.blackswanreport.com\/blog\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.blackswanreport.com\/blog\/wp-json\/wp\/v2\/comments?post=169"}],"version-history":[{"count":0,"href":"https:\/\/www.blackswanreport.com\/blog\/wp-json\/wp\/v2\/posts\/169\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.blackswanreport.com\/blog\/wp-json\/wp\/v2\/media?parent=169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.blackswanreport.com\/blog\/wp-json\/wp\/v2\/categories?post=169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.blackswanreport.com\/blog\/wp-json\/wp\/v2\/tags?post=169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}