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Bulls bailed out again!


  

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Posted

Is this rally the Administration's last stand?

Gotta get the market up before the elections... :rolleyes: Wouldn't be prudent to let it go down the crapple...

Posted

Got busy out of the weekend and have had my head buried, but I wanted to offer two quick responses. First, Doc, about Taleb & Knight (and risk and uncertainty). This is dead-on correct. If you look in the bibliography of The Black Swan, you'll find Knight's book. I think a lot of Taleb is his popularizing of Knight. In fact, I google the two and find I'm not alone:

 

For instance, he thinks Frank Knight’s concept of uncertainty is nothing like his concept of uncertainty, seemingly confusing Knightian uncertainty with subjective probability. Unfortunately for Taleb, Knight had a pretty similar concept back in 1919 and the lack of success with this insight is instructive (after 90 years, not much has been generated despite much effort).

http://mahalanobis.twoday.net/stories/3931521/

 

Quanta, you put up a link to "sovereign" something or other. I really enjoyed it, and just wanted to acknowledge that.

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