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Benno Hansen

The wisdom of Nassim Taleb | Hunter-Gatherer - 0 views

hunter-gatherer.com/...wisdom-nassim-taleb

wisdom Nassim Nicholas Taleb economics risk

shared by Benno Hansen on 15 May 10 - Cached
  • Benno Hansen on 15 May 10
     
    "A good aphorism is a tool that help people make sense of the world in simple and easy to remember ways. Enter Nassim Taleb: former financial trader, author, philosopher, and now, aphorist. Nassim is on Twitter exclusively writing aphorisms. Many of his aphorisms concern paleo. I've included a selection below. Have a look, and vote on your favorite in the comments."
Benno Hansen

Nassim Taleb: my rules for life | Books | The Observer - 0 views

www.guardian.co.uk/...-antifragile-finance-interview

black swan Nicholas Nassim Taleb economics statistics finance risk risk management

shared by Benno Hansen on 29 Nov 12 - No Cached
  • the "non-natural" has to prove its harmlessness
  • A clerk in a large company is fragile as he has only one source of income. A taxi driver is antifragile. A banker is fragile. A prostitute is antifragile.
  • Benno Hansen on 29 Nov 12
     
    ""An erudite is someone who displays less than he knows; a journalist or consultant the opposite.""
Benno Hansen

How the Nobel prize may have sparked the credit crisis - The Globe and Mail - 0 views

www.theglobeandmail.com/...article1735150

Nobel Prize economics Nassim Nicholas Taleb

shared by Benno Hansen on 03 Oct 10 - No Cached
  • Benno Hansen on 03 Oct 10
     
    Taleb is attacking the equivocation of the Nobel prizes in his books. This article attacks Taleb for attacking winners of the lesser Nobel prize, the one reserved for dubious economists. The ignorance of journalists, the irony, the... whatever.
Benno Hansen

Author's Climate Remark Ruffles Feathers - Green Inc. Blog - NYTimes.com - 1 views

greeninc.blogs.nytimes.com/...limate-remark-ruffles-feathers

Nassim Nicholas Taleb climate change

shared by Benno Hansen on 23 Aug 09 - Cached
  • “I’m a hyper-conservative ecologically,” Mr. Taleb said. “I don’t want to mess with Mother Nature. I don’t believe that carbon thing is necessarily anthropogenic.”
  • By the “not necessarily” I meant that I don’t need expert models and proof that we are harming it to STOP POLLUTING the planet. This is part of my idea that one does not need rationalization to the edict: DO NOT DISTURB A COMPLEX SYSTEM, since we do not know the consequences of our actions owing to complicated causal webs.
  • I also said “leave the planet the way we got it”. So my “super Green” position or hyperecologist was somehow lost in translation: they probably thought “conservative” meant loves to pollute or something like that. “Perhaps the worst of this story,” Mr. Taleb added, “is the fan mail I’ve been getting from right-wing anti-environmentalists.”
Benno Hansen

Blame Nobel for crisis, says author of Black Swan | Reuters - 0 views

www.reuters.com/...idUSTRE68R2SK20100928

Nassim Nicholas Taleb economy economics risk management nobel

shared by Benno Hansen on 03 Oct 10 - No Cached
  • "I want to remove the harm from these economic models. And the Nobel is not helping. They should be held partly responsible, if not largely responsible, for the crisis,
  • a list of Nobel prize winners who make his blood boil. They include: Harry Markowitz, William Sharpe, Robert Merton, Myron Scholes, Robert Engle, Franco Modigliani and Merton Miller
  • Forecasting methods, which he discusses in detail in his book, create a false sense of security or, worse, send people in the wrong direction. Universities then compound the problem by teaching these Nobel-approved ideas as orthodoxy.
Benno Hansen

Carbon pricing is planetary Russian Roulette - The Ecologist - 0 views

www.theecologist.org/...lanetary_russian_roulette.html

carbon Nassim Nicholas Taleb economy black swan risk risk management

shared by Benno Hansen on 28 Nov 09 - Cached
  • How do you price the tonne of carbon that, once burned, tips the balance and triggers catastrophic, irreversible global warming?This question is phrased to give scope for only one answer: there is no price and therefore carbon markets are pointless.
  • how effective is pricing in carbon markets?
  • There is no mechanism for pricing in this situation because the outcomes are so asymmetrical: extinction or cash.
  • ...4 more annotations...
  • prices are almost always imperfect for a number of reasons, ranging from lack of information to ignoring costs such as pollution
  • The theory of unintended consequences states simply that whatever we do in a complex system will have a range of consequences we did not intend and could not forecast because of our lack of knowledge.
  • the most important events in the future are the largest events and these we cannot forecast.
  • it would be stupid to discard carbon markets provided they are considered as only one innovation amongst many other areas which require innovation including education, law, business, technology etc.
Benno Hansen

FT.com / World - Class of '83 author recalls 'likeable' guy - 0 views

www.ft.com/...04-11de-a7ec-00144feab49a.html

economy Nassim Nicholas Taleb black swan economics risk

shared by Benno Hansen on 25 Oct 09 - Cached
  • The insider trading scandal is potentially embarrassing for Wharton, whose MBA degree is ranked the best in the world by the Financial Times. Business schools have been squirming recently as the financial crisis thrust some of their alumni into the unforgiving gaze of an angry public.
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