Nassim “Black Swan” Taleb writes on Edge about an unwillingness or consider and remember extreme events leads to financial disaster in The Fourth Quadrant: A map of the limits of statistics. Statistical and applied probabilistic knowledge is the core of knowledge; statistics is what tells you if something is true, false, or merely anecdotal; it […]
In 2009, according to Google Analytics, Resilience Science had 140,000 visits (up 17% from last year), and 230,000 page views (up +30%) Roughly, 10% of visitors came directly 70% from search engines (almost entirely from google), and 20% from refering sites The main sources of traffic was resalliance.org, other big sources provided less than 1/10th […]
Nassim Nicholas Taleb writes in Financial Times that because financial economics focus on normal and marginal behaviour at the expense of shocks and market reorganizations it is a pseudo-science hurting markets: I was a trader and risk manager for almost 20 years (before experiencing battle fatigue). There is no way my and my colleagues’ accumulated […]