Nassim Nicholas Taleb joins the Davos Debates


>>Hello YouTube. I’m going to answer a question
about whether we’re going to get growth. And let me tell you the real problem. The problem
is that the growth we were having was not real. It was like an uninsured risk-taking
that gave the illusion of growth with huge amount of downside risks that we’re paying
for now. Let me give you an example: take two companies, one company makes two dollars
a share, doesn’t have insurance, eventually it’s going to go bust. It looks good on paper.
Another company makes a dollar a share, but it’s very robust. It does not have downside
risk, it’s insured against what I call a black swan. The first company looks better
according to economic trick metrics, according to economic measurements, but the second one
in the long run is the one that will survive. So let’s not shoot for growth. Let’s shoot
for robustness. Let’s work on a society that is robust to model error, robust to the black
swan. A society different from the one the banks gave us. Let’s snatch it back away from
them. Thank you.

12 Replies to “Nassim Nicholas Taleb joins the Davos Debates”

  1. Robustness and even sustainability are important characteristics often discounted in pursuit of exponential functions on a finite planet.

    "Let's 'SNATCH' it back, away from them.." is imo expressing the issue overly politely. Many are ignorant of the economic and political warfare the banksters are near effortlessly perpetrating with politicians, (s)elected representatives and officials complicit in the subterfuge.

    Usury & fraud end NOW. Not all rope and tree production has been outsourced.

  2. what is sick is why this video has a thousands hits, this should have ten times that amount, if more people cared about this, then the world wouldn't be in this mess, at least global 'leaders' are listening, hopefully very carefully.

  3. People do care. But where would the average person find a link to this TYPE of video?

    I wish Nassim Taleb would post an actual, timely blog, as opposed to his current website. Then, more would hear his message.

  4. Usury is interest someone doesn't approve of. Fraud can be backed into in a state of enthusiasm. These are contestable concepts. In some meanings, they caused the boom, now busted. In other meanings, no. Many people bought into idiotic loans because they were enthusiastic about a never-ending upward spiral, and because the Fed had primed the pump, backing their enthusiasm with rigged numbers. Now, we must face the bust. Except that we're not allowed to. Our leaders prop up boom prices.

  5. NNT never loses big in the market, but has made some big wins. Apparently these Wall Street so called conservatives should take some lessons from NNT on becoming authentic conservatives.

  6. The sad part is that Taleb hasn't anything new in his ideas or his book, but yet because everyone was caught up in this whirlwind of charlatanism.

    He stayed grounded and remained intellectually honest.

  7. Even if he posted a timely blog, the only types of people who would read it would be people like us. Only those who seek the message have any chance of hearing it!

  8. I'm not going to read all the comments to see if this has been said, but Taleb is saying "RISK", not "GRACE". The captioner got that word wrong twice.

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