Email Story

Taleb vs economists

Economist's View found this 10/14/2008 on stumblingandmumbling.typepad.com

Everyone seems to be hailing Nassim Nicholas Taleb as the man who saw the crisis coming . I have a problem with this. It’s not that what Taleb says about risk is wrong. Quite the opposite. It just strikes me as trivially true. We’ve known for ages that returns are non-Gaussian , that extreme ...