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dredwerker

Taleb Questions Talent Of Wall St. Analysts - Video

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Interesting video from Taleb on traders:

'I’ve often scoffed at the notion that guys pushing buttons on computers to send large sums of money around the world and back takes talent. The bromide bandied about by Wall Street banks to the effect that that if compensation limits were imposed on them, that their their so-called ‘talent’ would go elsewhere is an insult to a person’s intelligence.

As Nassim Nicholas Taleb testified before Congress in the clip shown below, the Banking Industry has lost every dollar they’ve ever made in history and then some, and their only real talent is paying themselves bonuses. '

Taleb Video Clip

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i dont know. to take an extra 250% from an item that hasnt increased in size or value over teh last 5 years takes a little cunning. somehow they got nations to eat their young, and ask for seconds.....

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i dont know. to take an extra 250% from an item that hasnt increased in size or value over teh last 5 years takes a little cunning. somehow they got nations to eat their young, and ask for seconds.....

Not if the mugs are desperate to believe ;)

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I like the point he is making about large trades being much more risky.

And who has just bailed out the Bankers to allow them to double-or-quits with Taxpayer money.

What are the losses going to be this time.

:o

"We're doomed, I tell ye!"

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Taleb is always worth a listen. Thanks. I like the bit where he says you can use the analysts as cab drivers. Seems a tad unfair on cabbies.

And credit default swaps - "like somebody on the Titanic buying insurance from somebody on the Titanic." :lol:

Edited by 1929crash

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Taleb is always worth a listen. Thanks. I like the bit where he says you can use the analysts as cab drivers. Seems a tad unfair on cabbies.

And credit default swaps - "like somebody on the Titanic buying insurance from somebody on the Titanic." :lol:

That titanic line is great isnt it :)

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