Subash, Thanks, that's an excellent and timely article for those with a math or financial background. It puts the current woes of the financial system into perspective. Give me redundant and non-optimized systems! I also liked the author's bio in the Times. http://business.timesonline.co.uk/tol/business/economics/article4022091.ece I've got to get the Black Swans book. Regards, Bob S. (reformed mathematician)
On Thu, Sep 25, 2008 at 10:03 AM, Subash <[EMAIL PROTECTED]> wrote: > for those times, when it is raining outside (or its equivalent) and you > have absolutely nothing else to do.... > > a bit long... but i personally enjoyed reading it, though i am not a > 'financial' guy.... > > http://www.edge.org/3rd_culture/taleb08/taleb08_index.html > > "When Nassim Taleb talks about the limits of statistics, he becomes > outraged. "My outrage," he says, "is aimed at the scientist-charlatan > putting society at risk using statistical methods. This is similar to > iatrogenics, the study of the doctor putting the patient at risk." As a > researcher in probability, he has some credibility. In 2006, using FNMA > and bank risk managers as his prime perpetrators, he wrote the > following: > > The government-sponsored institution Fannie Mae, when I look at its > risks, seems to be sitting on a barrel of dynamite, vulnerable to > the slightest hiccup. But not to worry: their large staff of > scientists deemed these events "unlikely." > > > -- > PDML Pentax-Discuss Mail List > [email protected] > http://pdml.net/mailman/listinfo/pdml_pdml.net > to UNSUBSCRIBE from the PDML, please visit the link directly above and follow > the directions. > -- PDML Pentax-Discuss Mail List [email protected] http://pdml.net/mailman/listinfo/pdml_pdml.net to UNSUBSCRIBE from the PDML, please visit the link directly above and follow the directions.
