Friday, January 30, 2009

Brief report from closed session in Davos

How bad is the crisis going to get?

A few quotations from Nassim Taleb and Nouriel Roubini but nothing we don't know already...

Posted by doom&gloom @ 10:45 AM (765 views)
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3 thoughts on “Brief report from closed session in Davos

  • Mathematically flawed risk models? I think that you will find that the Quants were aware that the models were flawed. If any of them complained then they did not continue in the job. ‘Don’t rock the boat’. It was just plain old fashioned greed, nothing more and nothing less.

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  • Nassim Taleb seems to be famous for his Black Swan book. Shouldn’t Thom Yorke be famous for writing a song about the Black Swan before Taleb’s book in 2006? (Wittily entitle “Black Swan Song”)

    http://en.wikipedia.org/wiki/Black_Swan_(song)

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  • Walk a road crooked
    You can’t make straight
    It’s the price you gotta pay
    Do yourself a favour and pack your bags
    Buy a ticket and get on the train
    Buy a ticket and get on the train

    Cause this is f*cked up, f*cked up
    Cause this is f*cked up, f*cked up

    People get crushed like biscuit crumbs
    And lay down in the bitumen
    You have tried your best to please everyone
    But it just isn’t happening
    No, it just isn’t happening

    And it’s f*cked up, f*cked up
    And this is f*cked up, f*cked up
    This your blind spot, blind spot
    It should be obvious, but it’s not.
    But it isn’t, but it isn’t

    You cannot kickstart a dead horse
    You just crush yourself and walk away
    I don’t care what the future holds
    Cause I’m right here and I’m today
    With your fingers you can touch me

    I’m your black swan, black swan
    But I made it to the top, made it to the top
    This is f*cked up, f*cked up

    You are f*cked up, f*cked up
    This is f*cked up, f*cked up

    Be your black swan, black swan
    I’m for spare parts, broken up

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