Nassim Taleb Thinks Everyone Is StupidGoldman's Alpha FundNassim is talking science - you're talking anecdotes. Every major bank and most hedge funds have algorithmic-trading funds (Goldman's is worth $6B) that trades solely electronically without human interaction. The overuse of models that most MBAs don't understand is a real issue. Goldman's...
Wall Street's ability to plan for risk is a joke, as far as Nassim Nicholas Taleb is concerned. Taleb tells Fortune in Fear of a Black Swan that as "portfolio models got worse and worse in tracking reality, their use kept increasing as if nothing was happening....
TALEB, NASSIM NICHOLAS (2007) The Black Swan: The Impact of the Highly Improbable New York: Random House Pp. xxviii + 366. $26.95 HB Taleb pulls no punches. A few representative quotations from chapter 15, titled "The Bell Curve, the Great Intellectual Fraud,"...
China may be the rare case of a modern, fast-growth economy that has turned the terms of the trade against itself. Every year, PIMCO employees lock themselves (mentally, that is) in a room for three days to discuss what the world will look like in...
MY FIRST JOB Professor and author Nassim Nicholas Taleb was a Wall Street trader "I was not cut out for Wall Street," Nassim Nicholas Taleb says. Wall Street agreed. At first, he could not get a job as a trader. After he finally...
The author comes to Britain to defend 'the most-bought, least- read book' of our times Close-up You might think the writer of a book that topped Amazon's non- fiction chart throughout 2007 would be keen to get cracking on a follow-up. Not so...
Effective risk management is based on the identification, evaluation and control of hazards. Some hazards are foreseeable, predictable, "on model." Hazards of this type often can be addressed through statistical and other well known quality control methods. However, there is another type of hazard, one that is unforeseen, unpredictable and...
PAPERBACKS Wall Street trader turned outlaw philosopher, Taleb never bores in this exploration of extreme, improbable events - and how they shape lives. He argues that "black swan" shocks with "low predictability and large impact" - from Harry Potter to September 11 - will grow more frequent...
Barbara Meade, co-owner of Politics & Prose bookstore in D.C., has some perfect gift suggestions for the political junkies on your holiday shopping list. Her No. 1 pick is "The Bigger Picture" by Diana Walker, an insider's photographic record of every presidential administration since Jimmy...
DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/reports/c74488) has announced the addition of Scenarios for Risk Management and Global Investment Strategies to their offering. This book focuses on assessing the risks and challenges presented by modern investing, and the importance of adapting and responding to changing...
Put yourself for a moment in the place of a turkey. For the past 1,000 days, your owner has fed you and treated you well. If you were an analytical bird, you might trend your risk history and determine that it looks very favorable. Projecting...
[ILLUSTRATION OMITTED] When insurers buy reinsurance to manage their insurance portfolios, they are addressing the same balance between risk and return that investment managers assess to manage performance. In fact, some insurers use a conceptual tool of finance, known as...
M2 BEST BOOKS-C2000-2007 M2 COMMUNICATIONS LTD The shortlist for this year's GBP30,000 Financial Times and Goldman Sachs Business Book of the Year has been announced. This year's shortlist includes Alan Greenspan for The Age of Turbulence, Philippe Legrain for Immigrants, and Nassim Nicholas Taleb for The...
Byline: While having up-to-the-minute information is useful, investors need to beware of focusing only on the short term matthew cox In his book Faster: The Acceleration of Just About Everything, James Gleick points out that lift...
In brief Here are the current best-selling business books, according to the Sept. 10 issue of Business Week: Hardcover: 1. "The 4-Hour Work Week," by Timothy Ferris 2. "The Black Swan," by Nassim Nicholas Taleb 3. "Strengths Finder 2.0," by Tom Rath ...
Byline: NASSIM NICHOLAS TALEB AND GEORGE A MARTIN There are two classes of risk. The first is the risk of volatility, or fluctuations - think of Italy: in spite of the volatility of the political system, with close to 60 post-war governments, one can...
NEW YORK -- NYTimes.com today announced that it is now the exclusive host of the popular Freakonomics blog (www.nytimes.com/freakonomics), bringing best-selling Freakonomics authors Stephen J. Dubner and Steven D. Levitt to the online Opinion section of The Times. Melissa Lafsky, previously of The Huffington Post, is the...
The Black Swan Nassim Nicholas Taleb Random House 1745 Broadway, New York NY 10019 9781400063512, $26.95 www.randomhouse.com Nissim Taleb is an options trader/statistician turned philosopher and so his THE BLACK SWAN: THE IMPACT OF THE HIGHLY IMPROBABLE doesn't fit neatly...
Although it hisses too fiercely and flies off at too many tangents, Nassim Nicholas Taleb's The Black Swan counts among the year's most stimulating books. Part of the trader-turned-thinker's thesis, as his fans and foes will recall, is that dramatic, unpredicted and "highly improbable" events - "black swans" - will...
Hedge funds make money by picking up pennies in front of a steam-roller. And sometimes the steam-roller accelerates. Chris Dillow For me, one of the best things about Nassim Nicholas Taleb's <a href="http://www.amazon.co.uk/Black-Swan-Impact-Highly-Improbable/dp/0713999950 <span id="kQlH" style="#kQlH{font-style:italic;} The Black Swan is not...
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