It does not have anything to do with contango. In a paper called "Facts and Fantasies about Commodity Futures" (Yale, 2004), Gorton and Rouwenhorst came to the following conclusion after studying 45 years of data on a…
"But Cerf offered Rand an alternative: if she gave up 7 cents per copy in royalties, she could have the extra paper needed to print Galt’s oration. That she agreed is a sign of the great contradiction that haunts her…
By the same argument, you could basically claim that reducing the carbon emissions to _zero_ would improve the economy. The value that you attach to green policies are not quantifiable in a non-arbitrary way. (In the…
These "tons of highly intelligent and competent people" will probably not sit down and roll their fingers in either case. Rather, programs like this drains brain power from other sectors of the economy. There is an…
Maybe it's built in "pyramid" like this because: 1. Knowledge is hierarchical 2. Calculus has a longer list of skills that needs to be mastered before learning the subject. 3. Historically, calculus came around first…
Well, you could explain _how_ this will happen. Many of us, including me, simply don't get the argument. What differs this from assigning a monetary value to, let's say, _any_ new government license? (e.g. for opening a…
"Thus lowering interest rates increases investment — it reduces the cost of getting money, which reduces the cost of making stuff, which means more things can make a profit." The problem with this reasoning is that…
Big crashes will always occur, but I would not blame the recent crash on the gaussian models. I'd rather say that (almost) everyone underappreciated the risks connected to the real estate prices. Taleb pushes for a…
Why is Taleb getting all this mainstream attention? The finance guys have been aware of fail tail distributions all along. As Eugene Fama points out on his website...…
It does not have anything to do with contango. In a paper called "Facts and Fantasies about Commodity Futures" (Yale, 2004), Gorton and Rouwenhorst came to the following conclusion after studying 45 years of data on a…
"But Cerf offered Rand an alternative: if she gave up 7 cents per copy in royalties, she could have the extra paper needed to print Galt’s oration. That she agreed is a sign of the great contradiction that haunts her…
By the same argument, you could basically claim that reducing the carbon emissions to _zero_ would improve the economy. The value that you attach to green policies are not quantifiable in a non-arbitrary way. (In the…
These "tons of highly intelligent and competent people" will probably not sit down and roll their fingers in either case. Rather, programs like this drains brain power from other sectors of the economy. There is an…
Maybe it's built in "pyramid" like this because: 1. Knowledge is hierarchical 2. Calculus has a longer list of skills that needs to be mastered before learning the subject. 3. Historically, calculus came around first…
Well, you could explain _how_ this will happen. Many of us, including me, simply don't get the argument. What differs this from assigning a monetary value to, let's say, _any_ new government license? (e.g. for opening a…
"Thus lowering interest rates increases investment — it reduces the cost of getting money, which reduces the cost of making stuff, which means more things can make a profit." The problem with this reasoning is that…
Big crashes will always occur, but I would not blame the recent crash on the gaussian models. I'd rather say that (almost) everyone underappreciated the risks connected to the real estate prices. Taleb pushes for a…
Why is Taleb getting all this mainstream attention? The finance guys have been aware of fail tail distributions all along. As Eugene Fama points out on his website...…