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Be Grateful, Be Happy

In the New Year, say thanks for the good things that have happened during the year gone...

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Does Rebalancing Increase Risk?
That would be against conventional wisdom
 
Conventional wisdom, in the investing...
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Nassim Nicholas Taleb's New Year Resolutions for 2015

From the author of Fooled by Randomness, comes a list of resolutions that could work just as well if used a list of general rules.

 

For a man who won big betting against the bull market before the 2008 crisis, Nicholas Nassim Taleb actively avoids discussions on finance. Taleb is a writer of two bestsellers, Fooled by Randomness and The Black Swan. Taking time off from his usual rants about Anti-fragility, epistemological sufficiency and risk management, for the coming new year, Taleb has come up with a list of resolutions, tongue firmly in cheek every now and then.

 

The resolutions are as follows:

 

  1. Call someone who has no friends, just to say hello, letting the person know that you do not need him/her. Have coffee with lonely people twice every month.

  2. Do not read more than one new book every week- if needed re-read (and read no book you wouldn't re-read). Do not write more than two hours a day. Walk two hours a day regardless of the weather. Do not go to the gym more than 5 times in any given month and/or do not spend more than 30 minutes per visit.

  3. Fast one day a week on average. Eat meat only on festivals, but then splurge.

  4. Respect the janitor more than the chairman and respect those who respect the janitor more than the chairman.

  5. Do not read the latest breakthrough experiment in psychology about, say, the effect of taking cold showers on grammatical ability. Better even read nothing about “these” experiments.

  6. Read no book written by, or co-authored with, a journalist.

  7. Pick a lobbyist (preferrably Monsanto/GMO) or some economist harmful to the collective and make life miserable for him, especially if the reaction entails some personal and reputationjal risks for you.

  8. Give to someone who needs money but doesn't ask for it while finding an excuse to preserve his/her dignity.

  9. Use courage and wisdom, not labour, to make money

  10. In the end realise that you are only as valuable as the risks you are taking for the sake of the collective.

Source: https://twitter.com/nntaleb/status/550273244289585152/photo/1

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