1. What is fragile should break early while it is still small. Nothing should ever become too big to fail. Evolution in economic life helps those with the maximum amount of hidden risks – and hence the most fragile – become the biggest. 2. No socialisation of losses and privatisation of gains. Whatever may need to be [...]
The Black Swans…
April 10, 2009 by Leave a Comment
(This is the canonical black swan definition from the canonical “black swan” guy.) Dispatches from Extremistan (Nassim Taleb talk) A “black swan,” Taleb explained, is an event which is 1) Hard to predict; 2) Highly consequential; 3) Wrongly retro-predicted. We pretend we know why the big event happened, and so entrench our inability to deal [...]
Alphaverse is down
March 9, 2009 by 3 Comments
I’m particularly not sorry to inform you that Alphaverse part of the Multiverse is closed for business. The website is down, very much down that is. All of the mighty databases are severely damaged and there is little hope to recovery… For all the subscribers, Alphaverse will come back, with a vengeance! For now, check out [...]
