Money and Finance
- Missing The Forest For The Trees...
A few related quotes... From Garrett Hardin in Filters Against Folly (a book Peter Bevelin mentioned as one of the two things he re-reads every year in his 2007 interview): It is unfortunately true that experts are generally better at seeing their...
- Hussman Weekly Market Comment: Unbalanced Risk
It's no secret that when Alan Greenspan stepped down from the Federal Reserve, I had hoped that Martin Feldstein would be chosen as Fed Chairman, instead of appointing Ben Bernanke to that role. In early 2008 (see Round Two - Home Price Erosion),...
- Aphorism
Inspired by Nassim Taleb’s aphorisms in his book The Bed of Procrustes, I came up with one of my own while watching Alan Greenspan on CNBC for a few minutes this morning: When someone continually says "what the data tells us is..." the data almost certainly...
- Cnbc: Predicting Crisis: Dr. Doom & The Black Swan
Nouriel Roubini and Nassim Taleb on CNBC:-Part 1-Part 2-....................-Related books: -The Black Swan: The Impact of the Highly Improbable (Also available in an Audio Book)-Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets...
- Credit Crisis - Robert Rodriguez, Fpa Funds
To begin with, I believe FPA Capital Fund and FPA New Income are well structured to weather this credit-crisis storm. FPA Capital stands with nearly 43% in liquidity that we believe should help it withstand the crisis and provide us with the necessary...
Money and Finance
Nassim Taleb quote
“A main source of the economic crisis that started in 2007 lies in the iatrogenics of the attempt by Überfragilista Alan Greenspan—certainly the top economic iatrogenist of all time—to iron out the “boom-bust cycle” which caused risks to go hide under the carpet and accumulate there until they blew up the economy. The most depressing part of the Greenspan story is that the fellow was a libertarian and seemingly convinced of the idea of leaving systems to their own devices; people can fool themselves endlessly…..These attempts to eliminate the business cycle lead to the mother of all fragilities. Just as a little bit of fire here and there gets rid of the flammable material in a forest, a little bit of harm here and there in an economy weeds out the vulnerable firms early enough to allow them to “fail early” (so they can start again) and minimize the long-term damage to the system…An ethical problem arises when someone is put in charge. Greenspan’s actions were harmful, but even if he knew that, it would have taken a bit of heroic courage to justify inaction in a democracy where the incentive is to always promise a better outcome than the other guy, regardless of the actual, delayed cost.” –Nassim Taleb, Antifragile
- Missing The Forest For The Trees...
A few related quotes... From Garrett Hardin in Filters Against Folly (a book Peter Bevelin mentioned as one of the two things he re-reads every year in his 2007 interview): It is unfortunately true that experts are generally better at seeing their...
- Hussman Weekly Market Comment: Unbalanced Risk
It's no secret that when Alan Greenspan stepped down from the Federal Reserve, I had hoped that Martin Feldstein would be chosen as Fed Chairman, instead of appointing Ben Bernanke to that role. In early 2008 (see Round Two - Home Price Erosion),...
- Aphorism
Inspired by Nassim Taleb’s aphorisms in his book The Bed of Procrustes, I came up with one of my own while watching Alan Greenspan on CNBC for a few minutes this morning: When someone continually says "what the data tells us is..." the data almost certainly...
- Cnbc: Predicting Crisis: Dr. Doom & The Black Swan
Nouriel Roubini and Nassim Taleb on CNBC:-Part 1-Part 2-....................-Related books: -The Black Swan: The Impact of the Highly Improbable (Also available in an Audio Book)-Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets...
- Credit Crisis - Robert Rodriguez, Fpa Funds
To begin with, I believe FPA Capital Fund and FPA New Income are well structured to weather this credit-crisis storm. FPA Capital stands with nearly 43% in liquidity that we believe should help it withstand the crisis and provide us with the necessary...