Nassim was the feature speaker at ai5000’s Chief Investment Officer Summit in New York (May 2010). The summit had more than $1 trillion in pension, endowment, foundation, and insurance fund assets under management represented at the event. The following videos are from a Q&A with him (before) the event.
The most important issues for Chief Investment Officers (CIOs)
Summary Be over insured, have as low leverage as you can. Change your way of thinking by adopting at your core a defensive strategy. Don’t be
Presenter: Show of hands, who thinks this will be repeated? Why is that?
Nassim Taleb: Can I tell you what’s happening? This happened in the past, it keeps repeating itself. We keep bailing them out. The only way this will not be repeated this if you have punishment. The only place in which you had punishment is here switzerland, they went back and clawed back the bonuses. Until we do that we will always live under moral hazard from banks.
Presenter: So the leaders who were in charge taking on that risk, selling
Nassim Taleb & Benoit Mandelbrot on PBS Newshour talk about the current ecology of the financial industry during 2008 Financial Crisis (Air date October 21, 2008).
Transcript available here: Top Theorists Examine Rippling Economic TurbulenceAs the financial sector shifts, so does the reach of the jolt to economic structures around the world. Economist Nassim Nicholas Taleb and his mentor, mathematician Benoit Mandelbrot, speak with Paul Solman about chain reactions and predicting the financial crisis.
A peculiar video on YouTube titled “Nassim Nicholas Taleb” and only coming with the vague description: “Tips on life from a man who’s done a lot of thinking and knows a lot of people.” It is not clear who this video is from, possibly Nassim himself but unlikely, probably more likely a friend/acquaintance. As he describes at the start it is filmed at Heathrow Airport Terminal, a place he often criticises for being terribly designed and over optimized, the planners obviously having no appreciation of the non-linear effects of congestion.