It is so saddening that many nice, friendly, humble, and down-to-earth persons display these qualities because they are not rich.

Learning economics from an academic is like studying psychology by watching combustion engines. [Revision]

Shared by JohnH

Please somebody record this!

Tonight, NYC, open to the public (though technical):
http://www.ieor.columbia.edu/seminars/financialengineering/2011-2012/fall/Taleb_N/seminar.html

A Map and Simple Heuristic to Detect Fragility, Antifragility, and Model Error
www.ieor.columbia.edu
SEAS Columbia University;

Shared by JohnH

HatTip to Dave Lull! Thanks Dave.

Notes from the talk

Taleb returns to his alma mater. This talk supercedes his previous work (e.g. Black Swan). His main points are:

• We don’t have a word for the opposite of fragile.
    Fragile systems have small probability of huge negative payoff
    Robust systems have consistent payoffs
    ? has a small probability of a large pay-off
• Fragile systems eventually fail. ? systems eventually come good.

Shared by JohnH

There’s a two for one ticket offer (if your hedge fund is listed in their publication) for $1,950.

Nassim Taleb, author of the bestselling book “The Black Swan”; Mitch Julis, co-founder of Canyon Capital Advisors; and Emmanuel “Manny” Roman, chief operating officer of Man Group, will offer the keynote addresses at the eighth annual AR Symposium, being held in New York on Wednesday and Thursday, November 2 and 3 at the New York Athletic Club. The speakers will address the pressing issues faced by investors today as economic uncertainty continues.