Archive for the ‘Economics’ Category

Nassim Taleb

Nassim Nicholas Taleb (Arabic: نسيم نيقولا نجيب طالب‎, alternatively Nessim or Nissim, born 1960) is a Lebanese American essayist whose work focuses on problems of randomness and probability. His 2007 book The Black Swan was described in a review by Sunday Times as one of the twelve most influential books since World War II.

He is a bestselling author, and has been a professor at several universities, currently at Polytechnic Institute of New York University and Oxford University. He is also a practitioner of mathematical finance. Taleb has been a hedge fund manager, a Wall Street trader, and is currently a scientific adviser at Universa Investments and the International Monetary Fund.

He criticized the risk management methods used by the finance industry and warned about financial crises, subsequently making a fortune out of the late-2000s financial crisis. He advocates what he calls a “black swan robust” society, meaning a society that can withstand difficult-to-predict events. He favors “stochastic tinkering” as a method of scientific discovery, by which he means experimentation and fact-collecting instead of top-down directed research.

Source: Wiki

Nassim Nicholas Taleb’s Home Page

Books:

Videos:

David Cameron in conversation with Nassim Taleb

Nassim Nicholas Taleb at Harvard University on social problems Part 1

Part 2

18.10.2011 Nassim Taleb: “OWS Second Generation Marxist Class Struggle”


Economics goes back to Nature

I came across really interesting presentation by Prof. Andrew Lo (MIT World) presenting his recent work:  Warning: Physics Envy May be Hazardous to Your Wealth

In short he talks about the Risk and Uncertainty in Economics. He presents a new 5 level model with which you can better evaluate your current risk.The cool part is that he goes back to Mathematics – Physics – Chemistry – Biology – Economics – History – Philosophy – Religion in order to defince his “Spectrum of uncertainty”.

“(On explaining the title of the talk) Physics envy, is this desire to be able to explain 99% of all economic phenomenon with 3 laws. That’s what physicists can do. In fact we (economists) have 99 laws that explain maybe 3% of all phenomenon.” Prof. Andrew Lo

Thanks to David for his great post on the subject and post by Fundstrategy.co.uk –  Back to nature .

Der Geist des Geldes

Der Geist des Geldes Info

Der Geist des Geldes Teil 1

Der Geist des Geldes Teil 2

Der Geist des Geldes Teil 3

Der Geist des Geldes Teil 4

Der Geist des Geldes Teil 5

Der Geist des Geldes Teil 6

Der Geist des Geldes Teil 7

Der Geist des Geldes Teil 8

Der Geist des Geldes Teil 9

The Ascent of Money

I came across a series of four videos about the history of money which are really educative and I strongly recommend you taking the time to watch them.The videos are produced by Niall Ferguson ,who is Professor of History at Harvard University and William Ziegler Professor at Harvard Business School.

The Ascent of Money part 1

The Ascent of Money part 2

The Ascent of Money part 3

The Ascent of Money part 4

Discussion about his book: “The Ascent of Money”

Globalization: A keynote presentation by Professor Niall Ferguson with an introduction by Professor John Quelch Monday, October 13, 2008

Marc Faber

Dr Faber publishes a widely read monthly investment newsletter “The Gloom Boom & Doom Report” report which highlights unusual investment opportunities. More Info

Some highlights of Marc Faber

On Obama

I don’t have a very high opinion of Mr. Obama. I was negative of Mr. Bush but I think Mr. Obama makes him look like a genius.

On U.S. States:

The worst investment managers worldwide have been the state pension funds in the United States. They bought everything right at the peak and basically got out of things right at the bottom. And so they’re now facing a shortfall in unfunded liabilities of $2 trillion.

On the U.S.:

When you look at the United States … it’s a total disaster, we’re all doomed, we’re doomed!

On the U.S. Dollar:

In my opinion it’s beyond repair. If the US were a corporation and had proper accounting, they would be ‘Triple C, ‘ nobody would buy their bonds.”

Having said that, in the near term I think the dollar could rally because the others are no better, the others are worse. I think that the dollar will rally now against the euro and against the pound sterling and probably against the yen.

Feb. 11.2010 Marc Faber Discusses Global Financial Markets on Bloomberg

May 07.2010 Marc Faber: CNBC Interview