Taleb (FD: imo a stochastic person) still makes a good observation here wrt the "out of money!" morons are simply not trained/qualified to be working in the area they are working in:
The IYI (intellectual yet idiot) class are like English or psych majors arguing with speaker in advanced mathematics seminar. #Notevenwrong
— NassimNicholasTaleb (@nntaleb) August 30, 2016
3 comments:
Taleb is an "out of money" person.
He is a 'stochastic' thinker, most of his academic work is on stochastic maths applied to finance actually.
Right and remember what you observed about cognition... ie when humans dont understand things they will then view it via stochastic analysis...
like "there is a 50% chance the US will run out of money!" or something like that... "what are the chances the US will run out of money?!" , etc...
To be fair I've read mixed rants about "printing money", QE, "too much debt", etc. from him. So I don't think he really has understanding of modern financial and monetary operations much like most of HF/banker establishment.
Not strictly "we are running out of money" thinking, but probably also ideologically biased against government action and sovereignty and prefers "free markets!". Or in other words, he is probably a libertarian.
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