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Monday, April 2, 2012
2/4/2012: Two studies on Global Financial Crisis
An interesting analysis of the International Financial Crisis of 2007-2009 from Gary Gorton and Andrew Metrick, both Yale and NBER just out - see link here. Worth a read and contrasting with Taleb's excellent paper on same (earlier work than that of Gordon and Metrick) here.
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“It is not true that people stop pursuing dreams because they grow old, they grow old because they stop pursuing dreams.” Gabriel García Márquez
Nassim Nicholas Taleb was asked whether public protests in Athens is a Black Swan Event. He replied: “No. The real Black Swan Event is that people are not rioting against the banks in London and New York.”
"Getting worse more slowly is not the same as getting better", Prof. Brad DeLong