Ten principles for a Black Swan-proof world

    1. Posted 7 months agoComments & 3 notes • April 8th, 2009

      From Financial Times
      By Nassim Nicholas Taleb
      Published: April 7 2009 20:02

      These are the 10 principles read the article to see each items explanation.

      1. What is fragile should break early while it is still small.
      2. No socialisation of losses and privatisation of gains
      3. People who were driving a school bus blindfolded (and crashed it) should never be given a new bus
      4. Do not let someone making an “incentive” bonus manage a nuclear plant – or your financial risks
      5. Counter-balance complexity with simplicity.
      6. Do not give children sticks of dynamite, even if they come with a warning
      7. Only Ponzi schemes should depend on confidence. Governments should never need to “restore confidence”
      8. Do not give an addict more drugs if he has withdrawal pains
      9. Citizens should not depend on financial assets or fallible “expert” advice for their retiremen
      10. Make an omelette with the broken eggs.
      A free registration is required to read articles at the Financial Times. Via: Max Zeledon

    ♫ Tags : economy
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