Monday, February 25, 2013

Holy Cow, Is This a Paragraph or What? (Poor Nassim Taleb Never Stood A Chance)

By Joseph Cotterill (his ranting gets raves):
...Anyway as I was saying, I’m not doing a full critique of either Antifragile, or skin in the game, here. I don’t care for the associated attack on journalists as cowards and parasites on the doers, I will say that much. (“…modern journalists are designed to be either cowards, or have a need to escape reality.”) Heard it all before – every week. Usually from someone powerful trying to push me off a story about some moral hazard or other, or that I’m a fraud, or that I don’t know what I’m talking about, because I won’t pick up a Bloomberg terminal and trade on it. It’s never ever about how wonderful it is to take risk, or something highfalutin about convexity. It is about money, power, and (in traderspeak) being married to the position. Nick Dunbar already put it well in his review of Antifragile, regarding experts, politicians, and the Fannie Mae car-crash....
The rest of his comments on  Nassim Taleb are here.

We've visited with FT Alphaville's Mr. Cotterill a few times over the years.
In December's "European stocks closed generally mournful and reflective":
The headline was inspired by a bit of genius at FT Alphaville on Monday:
Five seven five / Is unsustainable, so / Haircut to seven
One of the following is an autumnal haiku composed on Twitter by Herman van Rompuy, President of the European Council. But which is it?
A season of mists
And of mellow fruitfulness
But not you; you’re Greek
And from last July:
Mandy Rice-Davies Sighting at FT Alphaville
Mandy Rice-Davies is a former model and showgirl known for her role in the Profumo affair.
When informed by the prosecuting attorney that Lord Astor disputed her version of events and denied having an affair she responded:
"Well, he would, wouldn't he?"
From the FT Alphaville post:
Spooks on the payrolls

...The report slipped out onto the DOL website this week. The Associated Press and Bloomberg have already torn it apart. But then, they would....
To the best of my knowledge, Mr. Cotterill is not a former model and showgirl....

Finally, "The Economist on Safe Assets":
...Harking back to last week's post on the robotic ride to serfdom the villein occupied the social space between the freeman and the slave, below the thane but above the feudal cotter (cottage in return for labor).
Thus the alpha-villein would be top dog.
And of course, a cotter rill is the brook beside the cottage.