The Bloomberg Businessweek website has a feature piece on Robert Rubin, in the article Nassim is interviewed and shares his view on President Clinton’s former Treasury Secretary and former Citigroup executive.

“Nobody on this planet represents more vividly the scam of the banking industry,” says Nassim Nicholas Taleb, author of The Black Swan. “He made $120 million from Citibank, which was technically insolvent. And now we, the taxpayers, are paying for it.”

Nassim Nicholas Taleb doesn’t know Rubin personally. He admits that his antipathy, like that of so many Rubin critics, is fueled by symbolism. “He represents everything that’s bad in America,”

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Nassim Taleb on Bob Rubin (Bloomberg)

Posted on

September 22nd, 2012

Category

General, Writing

Nassim Taleb has released a paper with the IMF: A New Heuristic Measure of Fragility and Tail Risks: Application to Stress Testing

From Business Insider: NASSIM TALEB: The Fed Is Looking At The Banking System All Wrong

Nassim Taleb has long been a critic of traditional forecasting methods like the ones underlying these stress tests. He even coined a now oft-repeated term to capture his criticism – “black swan” – which became a huge New York Times bestselling book.

Now, he warns that “fragility is especially high for the banks with the worst outcomes” according to a new metric he’s

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Nassim Taleb white paper with the IMF on why the Fed’s Stress Tests are bogus

Posted on

August 31st, 2012

Category

General, Writing

Nassim Taleb has released a technical note for Antifragile on his Facebook PageWhy the One Percent of the One Percent benefit from inequality more than general prosperity: A Note for AntiFragile.

Excerpt:

Introduction

The one percent of the one percent of the population is vastly more sensitive to inequality than total GDP growth (which explains why the superrich are doing well now, and should do better under globalization, and why it is a segment that doesn’t correlate well with the economy). For the super-rich, one point of GINI causes an increase equivalent to 6-10% increase in total income (say, GDP).

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Technical Note for Antifragile: The One Percent of the One Percent Depends on Inequality, not Wealth

Posted on

August 30th, 2012

Category

General, Writing

A reader has sent in a copy of Nassim’s Lecture notes from when he was teaching a course at the University of Massachusetts, Amherst, MA in 2005. The course/lecture series are titled: Randomness, Decisions, and Human Nature (SOM 797R – SYLLABUS).

Unfortunately all the links within the PDF are missing, if anyone has a copy with all the working links to studies, research papers, books, articles, images, etc, please let us know!

>> Check it out here.

Nassim Taleb Lecture Notes: Randomness, Decisions, and Human Nature

Posted on

August 24th, 2012

Category

Writing

Nassim Taleb will be speaking at the University of East Anglia as part of their 2012 Philosophy Public Lecture Series on Philosophy and the Economic Crisis.

The talk is scheduled for Thursday 27th of September 2012 and is titled “Opacity, Asymmetries and Ethics”. It will be held in LT2 and begin at 6.30pm, and is free to attend for all.

See here for the website and contact information: http://www.uea.ac.uk/phi/eventsnews/publiclectures/public-lectures-2012

Upcoming talk at University of East Anglia Philosophy School of Philosophy

Posted on

August 17th, 2012

Category

General

Nassim has just posted on his Facebook Page a 3-page PDF titled: Why It is No Longer a Good Idea to Be in The Investment Industry.

A spurious tail is the performance of a certain number of operators that is entirely caused by luck, what is called the “lucky fool” in Taleb (2001). Because of winner-take-all-effects (from globalization), spurious performance increases with time and explodes under fat tails in alarming proportions. An operator starting today, no matter his skill level, and ability to predict prices, will be outcompeted by the spurious tail. This paper shows the effect of powerlaw distributions on such spurious tail.

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Nassim N. Taleb on Spurious Tails in the Investment Industry

Posted on

August 15th, 2012

Category

Writing

Nassim Taleb will be speaking at an upcoming Author Event held by the Free Library of Philadelphia (FLP) on Thursday, November 29, 2012 at 7:30PM.

The cost is $15 for General Admission, and $7 Students ($USD) and is on at Central Library (1901 Vine Street, Philadelphia, PA 19103). The talk coincides with the release of his new book and bears the same title: Antifragile: Things That Gain from Disorder.

View the event on the FLP Website.

Upcoming Talk at the Free Library of Philadelphia

Posted on

August 9th, 2012

Category

General

The Green Lumber Problem, outlined in Nassim Taleb’s upcoming book Antifragile, is essentially misunderstanding which facts are relevant vs those which are not in regards decision making under uncertainty.

From Nassim:

 

“In one of the rare noncharlatanic books in finance, descriptively called What I Learned Losing A Million Dollars, the protagonist makes a big discovery. He remarks that a fellow called Joe Siegel, the most active trader in a commodity called “green lumber” actually thought that it was lumber painted green (rather than freshly cut lumber, called green because it had not

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Nassim Taleb’s “Green Lumber Problem”

Posted on

August 9th, 2012

Category

General, Writing

Just spotted Nassim Taleb’s upcoming book Antifragile on Penguin Books UK website. The website shows a different cover to the stacked boxes in the post below, and has a different subtitle “How to Live in a World We Don’t Understand” which would presumably be  for the UK market. Publish date appears to be 27th of November 2012.

 

 

  Antifragile: How to Live in a World We Don’t Understand http://www.penguin.co.uk/nf/Book/BookDisplay/0,,9781846141560,00.html

Synopsis

In his global bestseller The Black Swan, Nassim Taleb explained the existence of high impact rare events beyond the realms

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Penguin Book: Antifragile (New Book Cover)

Posted on

July 27th, 2012

Category

General

Nassim has currently uploaded for free viewing the Prologue of his upcoming book Antifragile: Things That Gain from Disorder. 

Click here to check it out.

Antifragile joins the previous works of Nassim’s continued exploration of the concepts of risk, uncertainty, probability, and decision making (plus many others threads), all under the umbrella of how to live in a world we don’t understand. “It’s all the same book” he has said before. I appears he has turned his works into a trilogy of sorts The INCERTO (The Works on UNCERTAINTY: Antifragile, The Black

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Prologue for Antifragile: Things That Gain from Disorder

Posted on

July 25th, 2012

Category

General