Armada of Black Swans
Anyone have any more charts on how much the pension funds have been raided to date since the debt ceiling talks have failed?
How in the world can Willie use black swan incorrectly. Its all anyone could talk about a year ago. A black swan is not a warning, it is an illustration of how people judge risk. It encompasses the idea that people cannot accurately assess low probability, high impact events. People that have not experienced an event do not think it can happen. It has absolutely nothing to ddo with what Willie describes. Does he mean albatross? Anyway it is a good article, I just wonder how a guy like him who lives this stuff can make a mistake like that. Hurts the crediblility a little.