Many people went into July 22 thinking they had a "conservative" or "moderate risk" portfolio.  After 12.5% (or higher) losses, many of those same individuals now realize they had high risk portfolios all along.  The problem is, no one told them that when their portfolios were constructed.

Worse yet, a good number of these individuals were planning on living off of these investments within the next couple years.  Undoubtedly, those plans have now been delayed, perhaps for some time as the economy and markets struggle to find their footing.

Help, friends. How do we translate nerd into French? “pollard” seems archaic, “bachotteur” and “livresque” inadequate. (I am translating the aphorisms of The Bed of Procrustes). Mille mercis.

Only he who is free with his time will be free with his opinion.

Shared by JohnH

From NNT’s home page. Certainly hope all is well, health-wise. I would imagine he’s inundated with requests from the media to speak about the meltdown etc. I do see some speaking engagements coming up in September, http://www.fooledbyrandomness.com/scheduledseminars.htm

Nassim Nicholas Taleb’s Home Page

Emergencies (only): talebassistant -at- gmail.com

Life has to be an acquired taste; people lose their heroism and get more and more scared of death as they age.