Nassim Taleb is back in the news! This time, he is telling investment professionals not to go into investing in his new paper Why It is No Longer a Good Idea To Be In The Investment Industry.
The “spurious tail” is therefore the number of persons who rise to the top for no reasons other than mere luck, with subsequent rationalizations, analyses, explanations, and attributions. The performance in the “spurious tail” is only a matter of number of participants, the base population of those who tried.
To conclude, if you are starting a career, move away from investment management and performance related lotteries as you will be competing with a swelling future spurious tail. Pick a less commoditized business or a niche where there is a small number of direct competitors. Or, if you stay in trading, become a market-maker.
The UN has called for an immediate suspension of government-mandated US ethanol production, adding to pressure on Barack Obama to address the food-versus-fuel debate in the run-up to presidential elections.
So, for people who've been with us as little as three years, we're offering to pre-pay 95% of the cost of courses such as aircraft mechanics, computer-aided design, machine tool technologies, medical lab technologies, nursing, and many other fields.
The program is unusual. Unlike traditional tuition reimbursement programs, we exclusively fund education only in areas that are well-paying and in high demand according to sources like the U.S. Bureau of Labor Statistics, and we fund those areas regardless of whether those skills are relevant to a career at Amazon.
The government has told the courts they may wish to take particular account of anyone using two or more words from what it calls ‘List A’ — ‘Games’; ‘Two Thousand and Twelve’; ‘2012’; ‘twenty twelve’. The judges must also come down hard on a business or charity that takes a word from List A and conjoins it with one or more words from ‘List B’ — ‘Gold’; ‘Silver’; ‘Bronze’; ‘London’; ‘medals’; ‘sponsors’; ‘summer’. Common nouns are now private property.
Who here is pandering to the masses and who is making arguments that appeal to the elites?