“The worst thing you can do with insurance is try to time it,” Taleb, a distinguished professor of risk engineering at New York University, said in an interview Monday on Bloomberg Television. “If you don’t have tail insurance, you don’t have a portfolio. Your portfolio is going to blow up.”
That’s a sobering reality check from someone who has long argued that instead of turning to the government for help in times of crisis, big investors and corporations should manage their own risks. His pleas for prudence were largely ignored, though, and most parts of the economy were ill-prepared for a sudden downturn when the coronavirus hit.
Third conversation between Nassim Nicholas Taleb & Yaneer Bar-Yam about uncertainty, certainty and what to do when there is a systemic risk; what not to do when a truck is headed your way. How acting early would have cost less? They also discuss:
John Ioannidis recent post “we are making decisions without reliable data”
Why we should make decisions without reliable data & use precautionary principles
How the costs would be so much smaller if we would have acted earlier.
Nassim Nicholas Taleb in an interaction with Ami Shah of ETMarkets.com on the sidelines of Times Network India Economic Conclave talks about what makes him bullish on gold, why he’s still betting on crypto, and why he doesn’t invest in India.
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In a pop-up seminar held at the Lebanese American University New York Academic Center and Headquarters on the 7th of November 2019, Nassim discusses the recent protests happening in Lebanon and the idea of localism being a viable solution for the country.
Author Nassim Nicholas Taleb interviewed about his book Skin in the Game by author and journalist Katrine Marçal. Taleb explains the concepts of Skin in the Game and Soul in the Game. He also talks about rationality and honour. Taleb is not a fan of economists Paul Krugman, Richard Thaler and behavioural economics. In this interview, he explains why.