Fund managers on twitter showing they don’t understand fat tail risk / coronavirus shows how gentle and forgiving this record bull run has been to people.
I wonder what % of fund managers studied biology rather than economics as undergrads. I wonder what % of their financial models include anything whatsoever about fat tail pandemic risk.
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If I had to choose one thing that initially unified our core team at
@unboundedcap it was an appreciation for Taleb and his approach to risk management.Thanks. Twitter will use this to make your timeline better. UndoUndo
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I’m sorry but this has nothing to do with biology and everything to do with risk management.
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Hard to manage pandemic risk if you don't understand pandemic biology at all.
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Fed intervention in the economy could still push asset prices higher despite the biological pandemic. But if the housing market takes a hit due to population loss all bets are off.
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As an undergrad biol major who had to hide that fact when I started out in capital markets I can assure you it is quite a low number!
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Maybe if they
#blackswan#fooledbyrandomness or#antifragile by@nntaleb they would be prepared. Doesn't require any study in biologyThanks. Twitter will use this to make your timeline better. UndoUndo
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All these guys talk to experts in epidemiology. Risk management typically doesn't get that granular, but precautions are taken. Hence why we've had momentum downward (forced selling). What's truly at play is behavioral psych when the screen turns red and career risk pressure.
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