Brilliant @TheTyee article regarding the UCP/AIMCO/losing $2 billion.
Now...apply it to the UCP's dangerous return to school plan.
"the AB government, A CULTIVATOR OF FRAGILITY, has no idea how to deal with volatility other than losing big"
thetyee.ca/Analysis/2020/…
/1
Now...apply it to the UCP's dangerous return to school plan.
"the AB government, A CULTIVATOR OF FRAGILITY, has no idea how to deal with volatility other than losing big"
thetyee.ca/Analysis/2020/…
/1
@nntaleb is quoted in the article. He understands risk, and he is one of the brilliant minds behind @endCOVID19.
"Nicholas Nassim Taleb, North America’s great philosopher of risk, has long argued that wise and prudent investors must understand the dangers of volatility. ...
/2
"Nicholas Nassim Taleb, North America’s great philosopher of risk, has long argued that wise and prudent investors must understand the dangers of volatility. ...
/2
He even has a word for it: antifragile.
“When you wake up in the morning, you need to be protected from mistakes in order to survive,” he explains. “You also need to be positioned in a way that if you lose, you lose small. ...
/3
“When you wake up in the morning, you need to be protected from mistakes in order to survive,” he explains. “You also need to be positioned in a way that if you lose, you lose small. ...
/3
And if you make money, you make it big — at least bigger than what you would lose.”
Now...from Andrew Nikiforuk in the @thetyee article —
"Based on AIMCo’s document and the government’s report on the rainy-day fund, the Alberta government, a cultivator of fragility, ...
/4
Now...from Andrew Nikiforuk in the @thetyee article —
"Based on AIMCo’s document and the government’s report on the rainy-day fund, the Alberta government, a cultivator of fragility, ...
/4
...has no idea how to deal with volatility other than losing big.
Losers, in other words, are running the province. They vow to continue to invest more of other people’s money in oil and gas projects. Will the returns continue to be “unsatisfactory” ...
/5
Losers, in other words, are running the province. They vow to continue to invest more of other people’s money in oil and gas projects. Will the returns continue to be “unsatisfactory” ...
/5
...or perhaps even “wholly unsatisfactory?”
Taleb: Risk so you survive. If you risk big, make sure you win.
Nikiforuk: The UCP has no idea how to deal with risk. They have an indisputable losing track record. More calamity is to come.
Losers are in charge in AB.
/6
Taleb: Risk so you survive. If you risk big, make sure you win.
Nikiforuk: The UCP has no idea how to deal with risk. They have an indisputable losing track record. More calamity is to come.
Losers are in charge in AB.
/6
The UCP are foolish risk-takers who have failed to the tune of $2 billion in Albertans' savings.
They're in charge of Alberta's dangerous return to school plan.
We know their BIG RISK plan to open all schools province-wide as near-normal is for the sake of the economy.
/7
They're in charge of Alberta's dangerous return to school plan.
We know their BIG RISK plan to open all schools province-wide as near-normal is for the sake of the economy.
/7
Will the UCP get a better score than "unsatisfactory?" or "wholly unsatisfactory" on their risky return to school plan?
We can't lose big...or even afford to lose small.
The lives and well-being of students, staff, and families are at stake.
/8
We can't lose big...or even afford to lose small.
The lives and well-being of students, staff, and families are at stake.
/8
@CMOH_Alberta is busy trying to make the UCP's BIG risk return to school plan into a small risk plan.
It won't work.
Neither will passing the buck, @jkenney. We see you.
/8
It won't work.
Neither will passing the buck, @jkenney. We see you.
/8
The time to act is now.
Don't wait for September.
Don't wait for the first day.
See @alberta_moms for the plan.
See @endCOVID19 for the plan.
Don't wait for September.
Don't wait for the first day.
See @alberta_moms for the plan.
See @endCOVID19 for the plan.
