recentpopularlog in

jerryking : reminders   2

Why Warren Buffett Keeps Framed Reminders of Awful Moments in Economic History
Olivia B. Waxman
Jan 26, 2017

"I wanted to put on the walls days of extreme panic in Wall Street just as a reminder than anything can happen in this world," he says in this clip provided exclusively to TIME, from the upcoming HBO documentary Becoming Warren Buffett. "It's instructive art."
Warren_Buffett  Berkshire_Hathaway  web_video  panics  economic_history  art  unpredictability  unthinkable  imagination  uncertainty  HBO  documentaries  artifacts  reminders 
february 2017 by jerryking
You can’t predict a black swan - The Globe and Mail
KONRAD YAKABUSKI
The Globe and Mail
Published Thursday, Jan. 29 2015

The New York snowstorm that wasn’t, like the Swiss currency storm that was, are reminders that sophisticated computer models used to predict the future are useless in the face of the unpredictable. Instead of seeking a false assurance in the models, it’s better to prepare, to the extent possible, to weather any storm Mother Nature or man dishes up.

Black swans are “large-scale, unpredictable and irregular events of massive consequence,” as defined by the author who popularized the term in a 2007 book. Given their unpredictability, says Nassim Nicholas Taleb, the solution cannot lie in developing better predictive methods....Robust policy – such as sustainable public finances or effective bank regulations – must be designed to withstand black swans.
Konrad_Yakabuski  forecasting  weather  public_policy  reminders  modelling  unpredictability  assumptions  antifragility  Nassim_Taleb  black_swan  resilience  risk-management  policymaking 
january 2015 by jerryking

Copy this bookmark:





to read