Wednesday, 15 April 2009

Let's interview the Black Swan Man

An article at Clusterstock.com, which is a site that I visit frequently, gives a roasting to Nassim Taleb for some rather odd remarks that he made in regard to private equity and Ponzi schemes.

The author of the piece ends with the comment.
But, honestly, trying to refute this nonsense seems like a waste of time, except that it's Nassim Taleb saying this stuff, and everyone thinks he's an oracle (he's not).
I enjoyed Taleb's book Fooled by Randomness when it was published several years ago and was disappointed by The Black Swan as it seemed to re-iterate what was in the previous book with tiresome repetition.

David Hume, the Scottish philosopher, pointed out the problems of what is called the inductive fallacy more than 200 years ago but full marks to Taleb for spicing it up with some "sizzle", banging on about it for ten years and making some serious dosh in the process.

The fact that journalists now want to ask Taleb his opinions on areas that he may not be qualified to speak about is more indicative of the failings of many in the mainstream financial media than any fault of Taleb's.

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