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Ten principles for a Black Swan-proof world

 
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jabailo



Joined: 20 Mar 2006
Posts: 1273
Location: Kent (East Hill), WA

PostPosted: Mon Aug 03, 2009 3:39 pm    Post subject: Ten principles for a Black Swan-proof world Reply with quote

Ten principles for a Black Swan-proof world
By Nassim Nicholas Taleb

http://www.fooledbyrandomness.com/tenprinciples.pdf

Quote:
2. No socialisation of losses and privatisation of gains. Whatever may need to be bailed out should be nationalised; whatever does not need a bail-out should be free, small and riskbearing. We have managed to combine the worst of capitalism and socialism. In France in the 1980s, the socialists took over the banks. In the US in the 2000s, the banks took over the government. This is surreal.


What is a Black Swan?
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