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Since all economic variables are fat-tailed - Regular thin-tailed statistics don't apply
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This is the kind of bullshit delivered by a BSchool "Associate Dean". Dangerous BS.
— Nassim Nicholas Taleb (
Saying "data has fat tails" YET using ordinary MLE estimators, accepting modern portfolio theory, calculating CVaR, regressions, doing business as usual, is INCOHERENT. https://t.co/4W5Q2fjnq7 https://t.co/mmllll5mTP@nntaleb) December 19, 2017
Photo by Alexandr Bormotin on Unsplash