Of course the above refers to Taleb, not Niederhoffer. I'm referring to his mumble swerve in public about not running a hedge fund after 2001, yet Empirica Kurtosis wound up in 2004. Add to that his Paloma record. Yet he rails on about other managers. It seems that if he wants to point fingers the place to start is the mirror.
A couple of clippings - http://www.marketwatch.com/news/sto...x?guid={57EAC2A6-257E-4EC9-AC7A-7D7773384DDD} Of Dangerous Books and Markets... Before long, research reports and market commentaries will make "black swan" an overused buzz phrase, as they did "tipping point."... http://www.theglobeandmail.com/servlet/story/LAC.20070711.CABOOKS11/TPStory/Business Flying in from left field: the Black Swan... "Work hard, not in grunt work, but in chasing such opportunities and maximizing exposure to them," Mr. Taleb advises...
by the way, for the ones who follow Taleb but not Bloomberg: http://media.bloomberg.com/bb/avfile/BBRECON/vrLyqajz25o0.mp3 Nice chat with Taleb
ET has already reached that annoying point, where there is no lack of references to this odious swan. Refreshingly, it is occasionally, if somewhat infrequently, used in proper context.
right shave 200 points off the dow and everyone invokes the black swan, oooh! remember when 100 points on the dow was a big move?