What terrorizes rich people: spending all their lives accumulating money, building an image of “rich”, tying their ego to their wealth, then … realizing that money no longer confers status.
via What terrorizes rich people: spending… – Nassim Nicholas Taleb.
A busy thread on Twitter these last few days…
To win against ISIS, replace the crybaby reaction “they are horrible, let’s take them to court” w/ “Let us just kill them all,no prisoners.”
Almost all wars are preceded by episodes of tension; almost all episodes of tension are succeeded by peace.
(Backward vs forward)
via Almost all wars are preceded by episodes… – Nassim Nicholas Taleb.
Join Paul and Nassim for their infamous two-day seminar. Always at the cutting edge of financial thought.
QUANTITATIVE RISK MANAGEMENT – IN THEORY AND IN PRACTICE
12-13 March 2015, London
- What is Risk?
- What are Fat Tails?
- The idea of fragility and how to measure it
- Size and scaling
- The law of large numbers in the real world
- What is complexity?
- How to price options using different distributions
- How to simulate fat tails
- How to measure model risk
- How not to measure model risk
- Sometimes it’s wrong to use probabilities
- The concept of delta-alpha
- The commonest quant mistakes
- The greeks that give you false hope
- Why calibration does not work
- The dangers of correlation
- The importance of nonlinearity
- Volatility nonsense
- What commonsense tells you about volatility, and turning that into a model
- Why simple models are often the best and why too much math can be dangerous
- A summary of what to do and where the real world is different
Last chance for a discount: £1600 + VAT
Normal Price £1,999 plus VAT
The URL for online payment is http://www.wilmott.com/seminar_wt.cfm
This course is not available online
Course notes are not available separately
via Wilmott Forums – Wilmott and Taleb seminar 12-13 March London.
