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Finance

We might not yet have seen the worst of the financial crisis

Has the bottom been reached for this financial crisis? The stock market sometimes behaves as if it has but maybe it hasn't.
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Written by Tom Foremski on
Has the bottom been reached for this financial crisis? The stock market sometimes behaves as if it has but maybe it hasn't. That's the opinion of Nassim Nicholas Taleb, a former "quant" on Wall Street. Mr Taleb's recent book "The Black Swan" warned of unquantified risks and the dangers of current analyses of risk. He was recently a guest on the Charlie Rose show. Here is a 1 minute excerpt in which he asked about the depth of the financial crisis and replies that it will be worse than people think, at which point there is the sound of a thud as Charlie Rose's jaw or hand hits the table(!) Here is the full 19 minute interview (warning: not for the faint of heart!).

From Mr Taleb's web site: http://www.fooledbyrandomness.com/

"My major hobby is teasing people who take themselves & the quality of their knowledge too seriously & those who don’t have the courage to sometimes say: I don’t know...." (You may not be able to change the world but can at least get some entertainment & make a living out of the epistemic arrogance of the human race).

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