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International Law

: Misleading Advertising Law

Dr. Doom and the Black Swan Give Advice

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WASHINGTON - OCTOBER 30: Nouriel Roubini (L),...

Image by Getty Images via Daylife

Dr. Doom & the Black Swan, Nouriel Roubini, RGE Monitor and Nassim Taleb, discuss what we need to do to get out of our financial crisis.

Interesting to see how the talking heads at CNN have simply no clue what Taleb's foundational point about risk taking.

Taleb makes two points, and it is often confusing which one he is arguing for.

1. The distribution of risks is not gaussian, but there may be a distribution out there that we can reconstruct from historical data.

2. For some types of risk, the historical data does not give rise to a distribution with underlying process.

It would be more helpful to the discussion if Taleb would focus his prescriptions on whether it was 1 or 2 he was arguing for, since they are drastically different claims.

Full post as published by Misleading Advertising Law on February 09, 2009 (boomark / email).

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