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Our favorite skeptical empiricist Nassim Taleb is interviewed by financial journalist, Consuelo Mack, where he shared his insights about history and rare events. He provides a definition of his most popular phrase “The Black Swan” which he uses to describe rare, unpredictable events that have unexpectedly large and widespread consequences for society. He cites as […]

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Former derivatives trader turned skeptical philosopher, Nassim Taleb, vents his frustration at the world financial system for allowing hindsight bias to fool them into a false sense of security which has now led to the worldwide financial crisis and recession. Taleb criticizes economists for relying on theoretical models that have little bearing on the real-world […]

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Skeptical empiricist Nassim Taleb joins one of his mentors: Benoit Mandelbrot, who pioneered fractal geometry and contributed to Chaos Theory, in criticizing the existing tenuous situation of the financial markets and the global economy. They highlight some of the key fallacies that economists and bankers believe–which is precisely the mindset that has prevented the financial […]

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Just requoting Paul Kedrosky’s post today: What people don’t get about sovereign debt is that countries are sharks when it comes to debt and default. That is the real lesson of research and writing and history in this area – that countries have been messing around, defaulting and restructuring in debt markets for hundreds and […]

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A couple of months ago, Nassim Taleb spoke out in Bloomberg about the “reforms” taking place in the financial system under the Obama and Geithner plans. He expressed his disgust and disappointment that not only are governments bailing out failed institutions but the new accounting standards being proposed after the crisis allow for even less […]

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Poker, especially its variant Texas Hold ’em is a very popular game around the world these days. Unlike other cards games such as Blackjack which are simply a question of odds, playing poker involves much more complex strategy since you are not playing against a house dealer, but other poker players as well. The popular explosion of poker […]

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Nassim Taleb speaks out in Davos, Switzerland, about how crises keep repeating because of the moral hazard of bailing out bad financial practices. Only if a system of punishment is in place (as it is in Switzerland) will future crises be averted. In the same conference, Taleb records an impromptu video for Youtube to express […]

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Nouriel Roubini (Dr. Doom) and our favorite skeptical empiricist Nassim Taleb (The Black Swan) appeared on CNBC to discuss the current financial crisis. Taleb makes a bold declaration: much of the causes of the crisis are still present: the same people who did not see the crisis coming are still in office. Roubini criticizes the […]

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Fareed Zakaria interviews Quantum Fund manager George Soros on CNN to hear his take on the ongoing financial crisis. Soros, promoted the term “Reflexivity” especially as it applies to economics: which describes the tendency for market trends to become self-fulfilling and propagate itself until it eventually becomes unstable and collapses on itself. He is also […]

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In these clips, the first from his exposition for the Long Now Foundation, the second from CNBC, Nassim Taleb outlines the characteristics of the term he has injected into popular culture: The Black Swan, or the rare event.His experiences draw heavily from history, economics and financial markets. Nassim Taleb was a former derivatives trader now turned philosopher and […]

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