The Philosophy of the Stock Market

2min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

i like how you call hiak a philosopher rather than aconomist. Unfortunately, i've often thought about a different name for myself and my colleagues who have similar leanings to economists. But it's am philosopher. Ea, irelevant philosophy. You know, at the end of the black swan, i go after antical philosophy. I like that agankian te say, tetey tey. They worry about the uncertainty. So isacolt the uncertainty of the de savants? Ok? It's the uncertainty of quanta mechanics. All right. Or near galshen, or definitelyvi yocestan, its migt extreme stan. Rats.

Nassim Taleb talks about the challenges of coping with uncertainty, predicting events, and understanding history. This wide-ranging conversation looks at investment, health, history and other areas where data play a key role. Taleb, the author of Fooled By Randomness and The Black Swan, imagines two countries, Mediocristan and Extremistan where the ability to understand the past and predict the future is radically different. Taleb's contention is that we often bring our intuition from Mediocristan for the events of Extremistan, leading us to error. The result is a tendency to be blind-sided by the unexpected.