I remembered a WSJ interview of NNT last year about Empirica after subprime blowout. According to Taleb, Empirica is not forced to closed by lacking of rare eve

I remembered a WSJ interview of NNT last year about Empirica after subprime blowout. According to Taleb, Empirica is not forced to closed by lacking of rare events and they did not lose their raised fund, but he felt bored. Because Empirica built its position in taking small loses everyday, and Taleb said that is really frustrating for people operate it psychologically. Just like what Taleb said (not verbatim): human being needs once in a while endorphin kicks in brain to live. And knowing your are losing money everyday to wait the payoff is really not that exciting. Don't you think it is the same feeling when you run a start up, living cheaply and waiting for the pay day? Unless a man with superhuman will power, it is too hard for most human being. But after subprime, he said he was interested in coming back to market because he thought it would have fun because the volatility of market may come back. Since he has "fuck off" money now, for him the fun is more important.