Nassim Nicholas Taleb, scientific adviser at Universa Investments, discusses risks facing financial markets, U.S. monetary policy and his concerns about deficits with Bloomberg’s Erik Schatzker at the SALT Conference in Las Vegas on “Bloomberg Markets: The Close.” (Source: Bloomberg)
How the correlation of subsections will be lower than the total (in absolute value). With implications for “empirical” research.
Free copy of the paper – https://arxiv.org/pdf/1802.05495.pdf
Nassim’s Lecture is titled Fractal Localism: On the scale and dynamics of bottom-up societies (conversation with Branko Milanovic)
5-7 April 2019
Belgrade at the Kolarac Concert Hall
…Link to more details
Link to YouTube video – https://www.youtube.com/watch?v=szXf0VLuQLg
Background : “IQ” is a stale test meant to measure mental capacity but in fact mostly measures extreme unintelligence (learning difficulties), as well as, to a lesser extent, a form of intelligence, stripped of 2nd order effects. It is via negativa not via positiva. It is meant to select exam-takers, paper shufflers, obedient IYIs (intellectuals yet idiots), ill adapted for “real life”.
“IQ” measures an inferior form of intelligence, stripped of 2nd order effects, meant to select paper shufflers, obedient IYIs. 1- When someone asks you a question in REAL LIFE, you focus first on “WHY is he asking me that?”, which slows down. (Fat Tony vs Dr John)
Link to Thread: https://twitter.com/nntaleb/status/1076845397795065856