Never Answer Critics

Nassim Taleb tweets: “The idea is to NEVER answer critics, just aim to stay in print –make sure people will be reading me long after they are dead.”
Flashback:

Unlike the other, more technical critics, I do not think much of Cowen’s intellect, abilities, & understanding of probability & random payoffs, but that irresponsible fool was the first to advertise the contribution of “prediction markets” in high moment applications, heavy-tailed environment. “Prediction markets” fail in fat-tailed domains because of a huge estimation error. Also note a blogger who got my point about predicting in Extremistan.

The quote above is just part of a typically overheated response to Tyler Cowen’s review of the Black Swan. Cowen’s review, by the way, is mostly positive.

Posted by Eddy Elfenbein on February 17th, 2010 at 11:30 am

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