imo argument is basically that taleb is arguing that exposure to god is awesome but that when and if god replies is tbd and cannot be bought.
" You can't profit from the idea that market returns have fat tails because that's priced into the market via the volatility smile, and this volatility smile shows up in 'disaster' insurance of all types: People pay a lot to sleep easy."pic.twitter.com/Mq66d5fvza
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"Further, we should ‘go long’ on these unanticipated events by engaging in quirky activities on the off-chance that we randomly find something, or someone, really valuable."pic.twitter.com/qVMNX3IGL3
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general thought here is that there's a kind of virtue to opening say... a persian restaurant in a neighborhood. it's a risky exploration of ppl's willingness to try new things. win or lose at least you 'did something'
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taleb's strategy overall isn't very 'good' from a returns perspective. but it is more 'virtuous' b/c it puts "your money where your mouth is" vs extracting value like a vampire and being immortal to blow-ups
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interesting to note that these 2 are both christians. imo the main conflict is between the stance one should have towards risk. e.g. strategist vs warrior.
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