Tag Archives: Geithner

Second Annual SALT Asia Conference Announces Program

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Mark your calendars folks. This should be good though the deck is pretty much stacked against NNT. Hope he’ll have FT traveling with him.

NEW YORK, Aug. 26, 2013 /PRNewswire/ — SkyBridge Capital (SkyBridge), an alternative investment firm, today announced the program for the second annual SkyBridge Alternatives “SALT” Asia Conference, which will take place at the Marina Bay Sands in Singapore September 24-27, 2013. Featured speakers for the invitation-only event include: Timothy Geithner, 75th United States Secretary of the Treasury; Jean-Claude Trichet, Former President of the ECB (2003 -2011) & Former Governor Banque de France (1993-2003; John Lipsky, Former First Deputy Managing Director, International Monetary Fund (2006-2011); Jin Liqun, Former Chairman of the Board of Supervisors, China Investment Corporation (CIC); Tharman Shanmugaratnam, Deputy Prime Minister & Minister for Finance, Singapore; and Nassim Taleb, New York Times Bestselling Author, “The Black Swan” and Distinguished Scientific Advisor, Universa Investments.

via Second Annual SALT Asia Conference Announces Program – Yahoo! Finance Canada.

Nassim Taleb: Don’t Listen to Geithner or Krugman – Nicole Allan – Business – The Atlantic

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Taleb took issue with Krugman’s support of deficit spending. “This transformation of private debt, with all the moral hazard it entails, into public debt is, number one, from a risk standpoint, bad,” he said. “And from an ethical standpoint, I find it immoral. The grandchildren should not bear the debts of the grandparents.”

Taleb called Friedman’s book The World is Flat “very bad for society,” arguing that it did not adequately assess risk. 

One person who did see the crash coming? Nassim Taleb. “In 2008, when the crisis happened, a lot of heads of state were interested in my message,” Taleb said. “Including David Cameron.”

Asked where the economy would be in 25 years, Taleb gave the vague response that “everything fragile will break.” Oh, and that the Fed won’t exist anymore. It will be replaced by something “I think more organic and that makes more sense.”

Deep Read: Nassim Taleb (The Black Swan Guy) : Planet Money : NPR

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by Jacob Goldstein

Here’s the latest Planet Money Deep Read — our occasional series of long-ish interviews with writers and thinkers.

Today, we hear from Nassim Taleb, the former Wall Street trader who published a book called the Black Swan back in 2007. The book was re-issued earlier this year, with a long new section called “On Robustness & Fragility.”

Listen to the Deep Read

[19 min 26 sec]

The book argues that most economic models fail because they don’t take into account rare, high-impact events that wind up driving history. (Taleb calls these events Black Swans.) The argument came out looking pretty good after the 2008 financial crisis.

The new section of the book includes, among other things, a prescription for withstanding a Black Swan.

The short version: Get rid of debt.

Tumor is still in the system – Nassim Nicholas Taleb part 1 & 2

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Popular NNT / Roubini CNBC clip from August 12, 2009.

[youtube=http://www.youtube.com/watch?v=D4GsCXnL9LE]

[youtube=http://www.youtube.com/watch?v=A5qbo7i_VMQ&NR=1]

I was a trader for 21 years, and anyone taking markets seriously needs to consider the following… You remember the day when Kervial was liquidated? The SocGen rogue trader… ‘the hero’ in France. They sold $50 billion dollars worth of stock. How much did capitalization drop world-wide, based on that?  Markets went down 12 percent! With a $50 billion order, you drop markets by 12%. We lost 7, 8 Trillion. A huge amount. So it tells you, don’t pay attention to stock markets. They’re driven by the marginal buyer. It means nothing. Short term markets mean nothing.

Nassim Taleb Bloomberg 05/13/10

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HatTip to EG!

[youtube=http://www.youtube.com/watch?v=OVxcDgfTzuk]

NNT was also on CNBC yesterday. The interviewers get in the way somewhat but it’s worth watching.