One of my engineering friends says: "The entropy of the universe is increasing, unless you put some energy into the system."
FWIW, I dropped by the public library of an affluent mid-sized NYC suburb over the weekend. The library has three copies of Black; all have been lent, and 13 'hold' requests are in queue. Quite a splash for a financial-markets (of sorts) book.
Not a very good book. I don't recommend it. Maybe buy the cliff notes version or read the condensed online version. No need to spend $24 when you can get a free synopses that covers all the main points without the filler.
This is the sort of intelligent-sounding but content-free remark that too often surfaces in discussions of volatility/risk/derivatatives. Have you actually done any work on "tiered vol-regimes"? Do you have any evidence you're able to predict "tiered vol-regime" switches? Otherwise, the remark is just trivial nonsense.
I suspect many that dislike what Taleb has to say are the very ones that are scamming the public by gambling with their money . You know who you are.
Haha...I think you've probably the read the condensed version of everything from "Investing for Retards" to "How to Think Like a Human for Retards Second Edition." Almost forgot "Turning Your Trailer into a Townhouse."
I believe the word is derivatives. I don't recall any statements intimating I can predict anything, nor is it a requirement. Here's a prediction nonetheless: We've witnessed the lows on swaps, strips and smile; and have nowhere to go but up. To use a transparent reference, we won't see VIX under 11 for years to come. To answer your previous; yes, I have.
Taleb concurs, which some of us find profoundly ironic considering how he performed with OPM at Paloma and Empirica.