1/3
#RWRI17 First 3 Days Highlights:
▪️real life consists of agents that manifest entirely different dynamics, whether considered as a whole or as parts (non-ergodic groups)
▪️practitioners are heuristic machines (any Italian nonna beats a Chemistry PhD in cooking pasta)
#RWRI17 First 3 Days Highlights:
▪️real life consists of agents that manifest entirely different dynamics, whether considered as a whole or as parts (non-ergodic groups)
▪️practitioners are heuristic machines (any Italian nonna beats a Chemistry PhD in cooking pasta)
2/3
▪️ if you consider insuring your house too expensive, you shouldn't own one in the first place
▪️Russian vernacular wisdom >>> most of financial risk managers. Готовь сани летом, а телегу зимой. (Repair your cart in December; in July your sledge remember)
▪️size matters
▪️ if you consider insuring your house too expensive, you shouldn't own one in the first place
▪️Russian vernacular wisdom >>> most of financial risk managers. Готовь сани летом, а телегу зимой. (Repair your cart in December; in July your sledge remember)
▪️size matters
3/3
▪️don't be smart, be anti-fragile (Accept only two kinds of risk, very low volatility and low upside and/or volatile and convex upside)
▪️if you work in a domain where failure is impossible (e.g. economist), you are unskilled labour
@nntaleb @RDouady
▪️don't be smart, be anti-fragile (Accept only two kinds of risk, very low volatility and low upside and/or volatile and convex upside)
▪️if you work in a domain where failure is impossible (e.g. economist), you are unskilled labour
@nntaleb @RDouady
• • •
Missing some Tweet in this thread? You can try to
force a refresh
