He said it over and over again, yet he’s now even more eloquent. Taleb states that: “Federal Reserve ‘Will Be Gone’ In 25 Years, Top Financial Mind Predicts, Despite Geithner’s Vote Of Confidence” The impact and importance of the underestimated book The Black Swan still doesn’t seize to amaze me…
Since Tim Geithner did not predict the economic crisis, Nassim Taleb has no interest in listening to him talk about it now. The author of The Black Swan, a book about risk and probability theory, told National Journal’s Matthew Cooper that he did not listen to Geithner, who preceded him at the Washington Ideas Forum. [...]
The fellows over at The Situationist blog have found another interesting read (via Seed Magazine). This article is about honesty & whether being honest is a conscious decision. I think the scientists behind these experiments need to add more participants to future studies. I suggest the following opposing participants; Buffett & Madoff. Click Here To [...]
Interesting paper on the trade offs between accuracy and precision in modeling (think excel)! Click Here To Download Less Is More: Accuracy vs Prediction In Modeling Introduction (By Susan Bachman, Coral Pipeline, & Marry Goodreau Stoner Associates Inc) As computers have increased in speed and capacity, pipeline modeling software has kept pace. Modelers can simulate [...]
A nice fellow implores the Australian Government to use “nudge” oriented reforms. Click Here To Read: Give Reform A Bit Of A Nudge (a la Thaler) Excerpt (Via Andrew Leigh) In Nudge: Improving Decisions About Health, Wealth and Happiness, Chicago University academics Richard Thaler and Cass Sunstein argue that economists and politicians have overestimated the [...]
I wonder what Buffett would think about this….Makes me think of the Ovarian Lottery Click Here For An Expanded Version of 5 Myths About Our Land Of Opportunity Introduction (Via Brookings) Americans have always believed that their country is unique in providing the opportunity to get ahead. Just combine hard work with a bit of [...]
A big thanks to Guru Focus & My Investing Notebook for finding this.