Antifragile explains why understanding x is different from f(x) the payoff or exposure from x. Most of the harm/gains come from f(x) being convex or concave not understanding x. Forecasting is off an average, and average is for academics and other morons.
This video illustrates the point with XIV that went bust while being correct about volatility –and why people who make money are usually wrong.
Category: Videos
[YouTube] Jouer sa peau, le nouveau livre de Nassim Nicholas Taleb
Pourquoi devrait-on cesser d’écouter ceux qui parlent au lieu d’agir ? Pourquoi les entreprises font-elles faillite ? Comment se fait-il que nous avons plus d’esclaves aujourd’hui qu’au temps des Romains ? Pourquoi imposer la démocratie aux autres pays ne marche jamais ?
Réponse : trop nombreux sont ceux qui dirigent le monde sans mettre leur peau en jeu.
Dans son livre le plus provocateur à ce jour, Taleb donne sa définition et ébranle les nôtres : qu’est-ce que comprendre le monde, réussir sa vie professionnelle, contribuer à une société juste ou injuste, détecter les non-sens et influencer les autres ?
D’Hammourabi à Sénèque, du géant Antée à Donald Trump, de Kant à Gros Tony, Taleb choisit ses exemples et montre qu’avoir quelque chose à perdre, vouloir accepter le risque, y voir une question de justice, d’honneur et de sacrifice, est pour les héros, les saints et bon nombre d’êtres humains épanouis… une essentielle règle du jeu.
Nassim Taleb on Bloomberg: Black Monday, Fed, Market Lessons
Oct.16 — The Black Monday crash was 30 years ago this week. “Black Swan” author Nassim Taleb was a trader for First Boston at the time. He made a lot of money while others lost fortunes. He recounts the experience with Bloomberg’s Erik Schatzker.
Also see written article here: The Crash of ’87, From the Wall Street Players Who Lived It
Bloomberg: Nassim Nicholas Taleb Sees Greater Risks Than Nuclear War
Aug.16 — Nassim Nicholas Taleb, adviser at Universa Investments, sat down for an interview with Erik Schatzker Tuesday evening in New York. Taleb, famous for his assessment of risk, says there are greater risks out there than nuclear war with North Korea.
Nassim Taleb’s Probability Moocs: The empirical distribution is … not empirical
For fat tailed distributions, the empirical distributions does not reflect the true statistical properties, particularly for extremes. This is a simplified side note to a paper with Mark Spitznagel on why people make a mistake by looking at raw historical data as “empiricism”.
So I am fed up with academics who say “we know it is fat tails” yet not understand the consequences.
Randomness of Correlation & Its Hacking by Big Dataists
This tutorial presents the intuitions of the randomness of sample correlation (spurious correlation) and the methodologies in derivations. Some later sections are somewhat technical as Nassim rederived an old equation with more precise functions (in order to apply to fat tails) and showed the distribution of the maximum of d variables with n points per variable.
This paves the way to the real scientific work on random matric theory under fat tails and the failure of Marchenko-Pastur.
Nassim on Bloomberg News
An interview of Nassim by Bloomberg TV at the SALT Conference. Nassim explains what people aren’t getting about President Trump, then discusses tail hedging and the current risks in the environment.
Nassim on Ron Paul’s Liberty Report
Watch today’s Liberty Report w/ @nntaleb Nassim Nicholas Taleb! Black Swans and Interventionistas – @ noon ET on:https://t.co/sooE64nHyS pic.twitter.com/gSp19knwl9
— Ron Paul (@RonPaul) May 19, 2017