4 ms·
plan appropriately Sure. Did you know that on the big stock market drop a couple weeks back, only one company in the s&p 500 went up? http://www.usnews.com/bl
by mynameishere 18y ago
plan appropriately
Sure. Did you know that on the big stock market drop a couple weeks back, only one company in the s&p 500 went up?
http://www.usnews.com/blogs/new-money/2008/9/30/campbells-soup-lone-survivor-of-the-sp-sell-off.html http://www.usnews.com/blogs/new-money/2008/9/30/campbells-so...
if you have no confidence in your banking system and no confidence in the financial markets, the only thing you can have confidence in is the ability to build a bunker
That is the only way to provide against the vast bulk of "black swans". A bunker with plenty of canned goods. And that fact got priced into the market instantly. Even if it amounted to a sort of joke...
- timr 18y agoYou're being extremely cynical. The point is not that you (probably) lost money in last week's market; the point is that you didn't go bust. The guys that Taleb is talking about put it all on the line, discounted the possibility that this sort of thing could happen, and now they're dead. Like I said: I don't like Taleb's writing, but I don't think the message is particularly bad.